EURUSD is in a channel.

For how long? Not too sure, but tomorrow’s NFP jobs report has the ability to break the pair out of the channel. I’m not going to write too much about the EURUSD since every bank has something to say on this pair, however I will note a couple things. 1) Forex Analytix subscribers have been very well aware of this channel and support at the 1.1800 level for the last couple weeks. 2) I think how stocks trade tomorrow will determine how this pair moves. Today, stocks were lower and the EURUSD was flat because EURXXX rallied on “risk aversion” today. 3) A move below the 1.1800 level would be significant since the market seems to be long “EUR” currently and we would break a multi year trend line (pink) as well.