EUR/USD (-50)

with more and more talk in media about European sovereign crisis, and banks without proper capitalization, EUR will not be able to gain against almost any currency, particularly against "safe haven currencies JPY, EUR, and USD". Bond spreads between PIIGS and German is steadily increasing, and EUR is paying the price. Since political tension are increasing in Japan, and SNB saying that they might be forced to step in forex market, we think that is the best to short it with USD. Friday better than expected job report definitely goes in favor of the trade. From technical perspective, Head and Shoulders pattern is evident in 4h chart, combined with Simple Moving Averages and lower highs, looks like great opportunity to short the pair. Targets are set at 1.2615, and stops placed at 1.2775