Article originally published on innerfx.com and republished here with permission
Good morning. Euro rallied but faced resistance after Friday’s NFP data release, which came at 114k vs. consensus of 113k. The unemployment rate dropped to 7.8%, fueling the conspiracy theories that the number was fake in order to aid President Obama’s re-election.
Market sentiment: intraday – bearish, short-term – slightly bullish
Potential trade strategy: to buy dips at 1.2950, target at 1.3050
EURUSD 4hrs 10-8-2012