![\"EURUSD,](\"http:\/\/www.laidtrades.com\/wp-content\/uploads\/2010\/11\/110210eurusd.png\")
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Calling all euro bulls! The EURUSD pair or the \u201cfiber\u201d as what some people call it has just broken out from a symmetrical triangle. As you can see from its daily chart, the pair has actually reversed its downtrend when it escaped from a cup and handle pattern. It then continued to trade strong before consolidating into a symmetrical triangle for the last two weeks. Given this recent price action, though, I can say that buying the euro and selling the US dollar at the same time would be a better idea at least from a technical point of view. Such breakout could propel the pair up until it hits some resistance at 1.4250 or even at 1.4300. That\u2019s at least a 200-pip upside in the near term. Not bad!<\/p>\n
The remaining days of this week would be crucial for the EURUSD. A high degree of volatility is expected in all currency pairs especially the fiber because of the US Federal monetary policy decision tomorrow and the release of the US\u2019s non-farm payrolls (NFP) report on Friday. There has been talks that the Fed would engage into another non-traditional money printing activities (quantitative easing) in the days to come in its desire to further ease the day-to-day market interest rates in order to encourage more lending and spending. Puff Daddy predicted it correctly \u2013 \u201cMore money, more problems.\u201d Of course the problem here is reflected on the greenback as its valuation gets diluted by the increase in money supply. Friday\u2019s NFP will likewise create some noise. Based on the recent estimates, about 65,000 jobs were added by US firms in the last month as against the 95,000 that got laid off in the previous period. If this figure is correct, then such would spark optimism among market participants, causing them to continue supporting non-dollar currencies like the euro.<\/p>\n