CalebDismuke

Time to short EUR/USD? What do you think?

FX:EURUSD   Euro Fx/U.S. Dollar
Technically Speaking
EUR/USD             is coming up on a confluence of resistance at 1.1125 and the 100 DMA. When I refer to confluence, I mean that 2 or more technical levels/indicators that are obvious to everyone.

Risk Factors
The biggest risk factor is the Non-Farm payroll report on Friday at 7:30 CST.

What to do?
From these levels, the R/R would seem to favor a short position. I usually wait for price action, but for those that don't, a stop above 1.1160 seems reasonable.
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