The EUR/USD pair fell during the session on Friday after the nonfarm payroll numbers came out much stronger than anticipated. However, the gap from the middle of September that is centered on the 1.33 handle offered enough support to keep the market just above it. Because of this, we can break below the Thursday lows we feel the market will continue much lower, probably to the 1.31 level. On the other hand, we do think that the 1.35 level above should be resistive so we would sell resistive looking candles up in the general region as well. We think it’s going to be choppy, but the Dollar may come back in favor.
Written by FX Empire