[B]EUR/USD began a strong downwards move, falling now 60 pips below the previous multi-year low of 1.2110 set earlier this year. The move could be the result of an expiry of double no touch options and of tensions towards the NFP. 1.20 is a critical level eyed by traders, economists and politicians.[/B]
Euro/Dollar reached a new swing low 0f 1.2050, falling off over 100 pips from the previous trading levels of 1.2170 seen earlier in the day. This sharp move pierced through the 1.2142 level that was set a few weeks ago, and through the fresh low of 1.2110 set this week on fears of a [URL="http://www.forexcrunch.com/euro-breaks-down-on-imminent-double-dip-recession/"]double dip recession in Europe[/URL].
There are talks about double no-touch options that locked [URL="http://www.forexcrunch.com/category/forex-weekly-outlook/eur-usd-outlook/"]EUR/USD[/URL] between 1.21 and 1.25 during the past week, and that these options were set to expire today. The other possible explanation is the high tensions towards the Non-Farm Payrolls.
Read the rest of the article about [URL="http://www.forexcrunch.com/euro-not-waiting-for-nfp-dives-towards-1-20/"][I][B]EUR/USD plunge towards 1.20[/B][/I][/URL].
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