Daily Strategy - The Dollar may gain today before fall against the Euro.
EURUSD (1.2372)
Trend: Neutral/Upward
Support/Resistance: 1.2295 - 1.2415
For today is expecting confirmation for the good U.S. jobs data with the report for Initial Claims and Continuing Claims. Also the other key event today is Philadelphia Fed all data schedule for 8:30 AM ET.
Nevertheless the positive reports from United States the dollar could not gain pips against the Euro. The first EURUSD support level is at 1.2330 followed by 1.2295. The second support at 1.2295 is strong as the break below may signal for continuing recovery of the dollar. But as overall the chances are minimal.
Our trading plan for today is to wait for the first support at 1.2230 and open long positions as use stops below the second support level.
EURUSD (1.2372)
Trend: Neutral/Upward
Support/Resistance: 1.2295 - 1.2415
For today is expecting confirmation for the good U.S. jobs data with the report for Initial Claims and Continuing Claims. Also the other key event today is Philadelphia Fed all data schedule for 8:30 AM ET.
Nevertheless the positive reports from United States the dollar could not gain pips against the Euro. The first EURUSD support level is at 1.2330 followed by 1.2295. The second support at 1.2295 is strong as the break below may signal for continuing recovery of the dollar. But as overall the chances are minimal.
Our trading plan for today is to wait for the first support at 1.2230 and open long positions as use stops below the second support level.
