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While weaker Euro is leading to slide in Euro/Dollar exchange rate, and hawkish commentaries from Yellen helped to push it down, next move for the pair actually lies with Non-farm payroll report to be released on Friday at 13:30 GMT.
Though Euro/Dollar exchange rate is more likely to slide down thanks to greater expectation of further action from European Central Bank (ECB). However if the current falling channel holds, with weaker than expected non-farm pay roll data could led to the test of channel resistance which will lead the pair to move another 80-90 points higher from current 1.087.
The move is also conceivable as the pair is showing some rebound from 1.08 resistance area.
Though Euro is more likely to slide against Dollar than not, there could be greater volatility ahead given the extreme once sided sentiment in the pair.
Euro is currently trading at 1.086 against Dollar.
