The EURUSD pair fell during the course of the session on Friday after the nonfarm payroll numbers came out. However, as per usual, the nonfarm payroll numbers didn’t really make a huge difference one way or the other.

The markets ended up slightly negative, but not enough to be concerned one way or the other.

With this, we still feel that the markets probably going to test the 1.37 level, an area of significant resistance.

If we can get above there, the market should go much higher. Ultimately, we feel that the markets probably going to have more of a sideways vibe to it, and therefore not making it too attractive.

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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