The EURUSD pair fell during the course of the session on Friday, as the nonfarm payroll numbers came out much stronger than anticipated.

The 1.15 level of course has offered resistance yet again, and it now appears that we are going to test the 1.13 level immediately.

If we get below there, we feel the market will then go down to the 1.10 handle given enough time, which is our longer-term target.

Rallies continue to offer selling opportunities on short-term charts as the US dollars without a doubt the favored currency at the moment.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro (EURUSD), minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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