Greetings.

Welcome to another NFP and here is our analysis for the EUR/USD.

Buy target projection: 1.2902
Sell target projection: 1.2736

Technically speaking, you can see a potential triangle forming on the hourly chart. If this is indeed a triangle, look for a potential break to the upside - however, traders will react on the news so it’s important to have your fundamental analysis in check.

For our longer term outlook of the EUR/USD, please look at some of our other posts.

Also, be sure to check the C2FX Forex Trade Sheet - 3 styles of trading and up more than 11,975 pips in long term trades in 2010 and up more than 1,300 pips in short term (or posted) trades in 2010.

As always with a big announcement like this, it is imperative you review your current positions.

[video forthcoming]

The feature move during today’s New York session was a surge of strength from the Japanese yen. The GBP/JPY currency pair dropped more than 100 pips from European trading day highs before stabilizing near 129 at the London close.

Curt Wehrley
FX Bootcamp’s Quantitative Analyst

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