Euro Stalls Ahead of Looming US Event Risk

For the uptrend to be violated, EURUSD would need to close below 1.5730. As that has not been the case, we see current price action as consolidation rather than a trend change. The current lull looks to owe itself to looming event risk, with ISM Manufacturing data due tomorrow and Nonfarm Payrolls on Friday. As the docket clears, we see a return to upside momentum eyeing a test of the psychologically significant 1.6000 where traders will look to Buy Euros ahead of stops.