Trigger for EURUSD short

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             testing the 1.08-1.0850 support zone today. EURUSD             bearish pattern is intact. Momentum indicators are all pushing lower so the trend is still in tact. But the 1.08 level needs to be broken and held before additional shorts are placed. If that level breaks, the target will be 1.04-1.0460 zone. Catalyst for this move could be this Friday's NFP if we get strong data. Divergence theme is strong with Fed looking for a cover to raise rates. However, if the NFP data is soft, EURUSD             will probably rally back to the 1.10 resistance area .

Also, look at the breakout on the DXY             (link attached). It's cleared the multi-month resistance around 97. Weekly chart is also ready to leap higher. Might we see another santa clause rally for the USD?

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out