Article originally published on innerfx.com and republished here with permission
Good morning. Dollar resumed rally after Friday’s NFP and the euro declined from 1.31 area to 1.2955.
It was a good plan to hold short ahead of Friday’s NFP, and I believe that current pullback is corrective, as EUR is showing signs of exhaustion after recovering from 1.2950 area to 1.3050 – currently trading around 1.3015
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell into rally around 1.3050, stop above 1.3100, target at 1.2950
EURUSD hourly 3-12-2013