EUR

There only trying to hedge the market in their favours but they wont make the mistake to give off early signs of jobs growth that could hint calling the interest rate rise.
The job losses are going to stay with us for a very long period of time Unemployment is going to remain high. U.S. economic growth will slow to a 2 percent rate or less in the second half of the year. That implies continued slack in the goods market and in the labor market.

I'm still a little pessimistic about the US job figures, and predicting job losses 100k plus.

Where as people who are looking to run along the Euro retracement the only strategy that comes to mind is positions placement, only if your broker lets you divide your standard margin lots in mini's, I Doubt it will break 127 by friday and then buying 0.2 on every 60-70 point dip and hold till 13230. The way Euro will develop in coming days is where every rally will be met by a 60/70 downward move to the previous sup/res level and thats where you can place buy lots.
But i will only recommend this strategy to people still hold a sell on euro from above 13300 / 13400.
I follow this strategy base on commodities such as Gold copper oil payoff in just few months its just phenomenon. But always go by fundamental and futures statistics.

@Coach: Agreed! - I'm finding the market in this condition more nail-biting than the usual choppy mess is. I don't think anyone really knows where it's going to end, technicians or fundamentalists.

@Radu: To offer an answer to what I think your question was: I do know some people who trade these sort of patterns on the 60 minute chart, and regard them as significant. However, with the proviso that they are supported by other indications, e.g. the pattern is occurring at a significant level, e.g. pivot or turning point, confluence of a significant Fid level, and probably other things I can't think of at the moment.

They do seem more reliable on daily and weekly charts, but in practice, in my experience, are not as easy to trade on those time-frames as one might think. When I started taking more notice of fundamentals, I stopped taking so much notice of them, but I do watch them for pullback indications....just a sort of indication of the natural "pulse" of the market, as it were, without necessarily taking them all that seriously.

nfp will be good #, will add some risk notion to currencies for euro's many 100-165 pip retraces, before trend resumption for sub 1.2500 and lower

@Mont, with fundamentals like what we had been experiencing for the last two days, the hammer is just like a falling japanese sword. try catching it!

Here we go again!!!