EUR USD Could Test 1.4444 Over Near-Term

The Euro is trading lower after the U.S. Non-Farm Payrolls Report.  Traders now expect the Euro to reach a major retracement level at 1.4444.

The Euro is down sharply. Traders are saying that government stimulus is not working and staying away from the more risky assets. The perception is if the U.S. economy is not on track to recovery then the Euro Zone is not going to improve.

The main trend is down on the daily chart and traders are looking for this currency pair to continue down to 1.4444 over the near-term.