FX.co ★ EUR/USD below highs amid strong US data

EUR/USD

Important data from the US:

Unemployment Report: +220K New Weekly Jobless Claims.

The US labor market is still strong even as fears of a recession loom.

US Housing Starts: 1.425 million, slightly below estimates of 1.411 million.

The Philadelphia Fed Manufacturing Index fell sharply to -19.

Conclusion: the euro seems to be ready for a significant drop, which makes it possible to go short from daily highs.