EUR/USD Technical Analysis October 10, 2011

EUR/USD originally rose during the session on Friday as the Non-Farm Payroll numbers came out stronger than expected. However, with the ratings agencies cutting the ratings of Spain and Italy, the markets sold off later in the session. The pair managed to retest the 1.35 level, but failed and printed a shooting star. This is a very bearish sign, and we are more than willing to sell on a break of the Friday low.

Written by FX Empire