Hi again,
in this post I will confine itself to the analysis of the EUR/USD. After the final reading of Non-Farm Employment, which I believe were not negative assume further strengthening of the U.S. dollar against the euro.
At the moment we are in the area, the first stop (yellow area), where the potential correction should be completed. <chart 1>. If the determination euro buyers will be large, it is possible to handle up to 1.3737 levels. However, at the moment I recommend short positions and buying the U.S. dollar.
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| chart 1. EUR/USD H4, 2014-01-12 |
The most important task for the dollar will overcome the level of 3670-3654, because closing the day below these levels would open the way towards 1.33
In conclusion, the short position with a stop loss at around 3770-3780 with the target to 1.33
regards,
oscarjp
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