The EUR/USD pair initially fell during the session on Thursday, but shot much higher and close above the 1.36 level for the first time in ages. That being the case, we still have a little bit of a fight at 1.37, but believe that this market is heading to the 1.38 handle if the nonfarm payroll number comes out weak. There is the possibility that the number comes out strong, which could throw a bit of a monkey wrench into this move, so at best this is a 50-50 shot from what we can tell. It certainly looks like the market is ready to go higher though, all things being equal.
Written by FX Empire