EURUSD consolidating after drop from NFP

FX:EURUSD   Euro / U.S. Dollar
167 1 1
Sudden drop from NFP last Friday confirmed the short term down trend with target around 1.0970. The trend had started since 1.1270 last Friday, so it is the middle of the trend now. To capture the remaining of the trend is difficult as there is a chance that it will consolidate to hit the upper channel before continue south. To control risk, entry on pullback is recommend, but breakout below 1.1070 also give a good opportunity. After drop, 1.1030 is the next area to adjust your risk as the conjunction of lower channel and up trend line .
@1.1140 EURUSD suddenly swing up to 1.1170 due to rumor that Obama was not happy with strong US Dollar, White house came to deny such rumor. This market swing from rumor is unexpected and causing the loss on the position. Accept the loss and move on.
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