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Your Feel-Good Trade on the Jobs Report

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Today's nonfarm payroll report boosted hopes for the economic recovery in the U.S., but different winds are blowing in Europe.

How about that nonfarm payroll report, huh?

With job creation beating forecasts and previous months' tallies being revised upward, investors have more reason to feel hopeful about the path of the U.S. economy.

Too bad things in Europe aren't looking so rosy.

"Things are beginning to brew once again," says Camilla Sutton, chief currency strategist at Scotia Bank. She says the governing coalition in Greece is looking fragile, and economic reports for the euro zone have been discouraging. All in all, it's "very negative," she told CNBC.

The euro is reflecting the goings on in the euro zone, Sutton says.

"The euro's getting really exciting" as it approaches the low end of its longtime trading range between 1.2800 and 1.3200, she says, and if it breaks below 1.2800, she recommends a short euro trade.

Sutton wants to sell the euro against the dollar at 1.2795 with a stop at 1.2900 and a target of 1.2600.

Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm.

Learn more: The essential vocabulary for currency trading is on Key Terms Dictionary. Top currency strategies are broken down for you in Currency Class.

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