Today's release of US labour market statistics may present a good opportunity to sell Eur/Usd for those who either wish to add to positions or to get on board for the first time.
Consensus expectation is for NFP to print at +15k, and for the headline unemployment rate to stay at 10.0%.
A bad NFP figure, -75k or worse, say, would probably lead to an extension of stock market losses, aggravating the 'risk-off' move, sending USD higher across the board, (except agst JPY maybe), with Eur/Usd ending lower on the day.
A good figure, +75k or better, would lead to a relief rally in stock markets and risk and, should this extend to a rally in Eur/Usd, then I think that will represent a great chance to sell, because the declines in Eur we have seen in the last week or two, in contrast to December's move, have not been a USD story-they have, instead, been driven by the Euro's own problems-Greece specifically, now infecting sentiment across the euro periphery generally.
Stay short Eur/Usd, or be grateful for a bounce to 1.3775 to build/enter.