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EUR/USD stuck to 1.25? options and futures say so

FXStreet (San Francisco) - On November 5, EUR/USD is trading around 1.2490 after having fallen for a fifth day out of the last six as the pair is enjoying the strength of the American dollar.

Since the maximum of October 29 at 1.2780, the EUR/USD lost 330 pips before finding a floor at 1.2440 early Wednesday. Then the pair found buying interest that sent it back to 1.2560 in November 4. However, it is trading near to the 1.2500 today and seems it will remain there.

Why? according to Ameritrade, EUR/USD futures are traded at 1.25 with a volume of 229,835. At the same time, Reuters reports that the action for options on the EUR/USD with maturity on November 7 is recorded around 1.25 in both directions, put or call.

The Thursday meetings on monetary policy of the ECB and the Bank of England will certainly affect the market and the EUR/USD; However, 1.2500 continues to be identified as the level where the battle is being waged right now. On Friday, the nonfarm payrolls will probably pronounce sentence.

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