EURUSD (1.2406)
Trend: Neutral/Upward
Support/Resistance: 1.2290 - 1.2480
From the prior week the traditional Initial Claims on Thursday show better report than expected and probably will continue with the perfect stat today. But do not forget for Friday's most important data U.S. Nonfarm payrolls report.
The other very important event today is at 12:45 GMT ECB Interest rates decision. It is not expecting changes but the data will dominate today on the forex markets.
If you are following our earlier forecasts we said that the Dollar will continue to lose against the Euro and that continue nevertheless the economic data.
For today is possible temporary correction with recovery of the Dollar but as overall bet against the Dollar. trading strategy today is to buy at any dip correction and expect levels above 1.25 this week.