Chart to Start the Week

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.

EURUSD

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

EURUSD 4hrs 10-8-2012

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About abwehra group

The Art&Science of Trading Gold
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