After yesterday’s gains, Euro spent both the Asian session and the European morning, consolidating gains, ahead of US NFP data. Hourly indicators correct the extreme overbought readings, yet price hold near 1.2540 high. At this point, no technical reading will be accurate, as is well know NFP could trigger quite noisy rallies that will be beyond technical analysis; my strategy today will be wait for the first 15 minutes candle to be complete, and see if dollar and stocks correlated as lately in risk mode; selling level will be under 1.2460, aiming for a 1.2400 while above 1.2550, target will be around 1.2620.
