EURO/USD ---Heading towards 1.4500 ??

USD stabilizes after US jobs growth outpaced expectations in October along with +110K in upward revisions for September and August


Non-farm payrolls, rose 151K in Oct from a revised -41K (prev -95K) in September and a revised -1K (prev -57K) in August. Unemployment remained at 9.6% for the 3rd consecutive month.


 Irish/Greek/Spanish 10 year spreads rose 20-25% relative to Germany for the past two weeks.


 But the euro can no longer sustain those highs solely on the back of the Fed asset purchases, while shrugging the ensuing widening in corporate spreads. Irelands ambitious new budget (yet to be approved in parliament) aims at cutting the deficit to 9.25%-9.5% of GDP in 2011 from the current 11.9%


H4 Chart Euro/Usd

Technically,  1.400 was sustained by last week's Closing, (the Support 3 ) on H4 chart,and the 200 SMA -on weekly chart is 1.3950.,resulting in  the Renewed surging upward near 1.4300, and 1.4450 Resistance cannot be discarded foe upcoming week.


However, any  movement below 1.3950 (200-week SMA) shall signal a reversal towards 1.3880 (Ichimoku Cloud to Resistance on H4), or 1.3862, being the 23.6 Fibo Retr on H4)


Weekly Chart Euro/Usd