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EUR/USD Update 12 Dec 12

 

Good day forex traders.

 

Welcome to another update of the EUR/USD currency pair. We noted much positive developments recently for the markets and this is especially for the US. The recent Non-Farm Payroll was much better than expected.

 

EUR/USD chart

 

Looking at the EUR/USD 4 hourly chart above we note that the currency pair is on a bullish momentum so far. Be careful as we may run into a resistance. If all goes well we should be considering 1.3110 as a possible target.

The bullish momentum may well be a continuum of the positive sentiments streaming from the surprising US NFP. Watch out for any adverse event derailing the momentum. Especially from the Euro Zone.

 

Trade safely.

 

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