Euro rises on negative news on US economy

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EURUSD

A strong Non-Farm Payrolls report of +223,000 was released on Friday.

At the same time, the unemployment rate unexpectedly fell to 3.5%, which is good for the economy.

However, a very weak ISM service report was released - the index fell sharply to 49.6 from 56.5 a month earlier - values below 50 indicate recession.

At the same time, the factory orders data came out and orders dropped 1.8%.

As a result, the market decided that the Federal Reserve would have good reason to hesitate to raise the rates.

The euro rose sharply.

However, I still believe that you should start selling the euro from the highs of December.