The euro rallied significantly on Wednesday to reach towards the top of what has been a relatively well-defined trading range. Because of this, I think that the market is trying to front run the jobs number on Friday, perhaps giving us a little bit of a “heads up” on what is about to happen with the euro, and then perhaps even the US dollar itself. Looking at this chart, it is obvious that the 50 day EMA is coming into focus again, which sits at the 1.1376 handle and looks as if it is tilting lower. The 1.1375 level is the beginning of significant resistance that I think extends all the way to the psychologically ... (full story)