The EURUSD pair initially fell during the course of the day on Thursday, but turn right back around to form a very bullish candle.

Because of this, the market looks as if it is trying to break above the 1.12 level. If it does, this market should continue to go higher, perhaps reaching towards the 1.1350 level given enough time.

We have seen quite a bit of volatility, and with the jobs number today that will continue. What frankly, this looks like a market that could be very choppy during the session, and therefore I feel it’s probably easier to trade after the weekend.

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.

Content curiosity of FOREXCycle