EURUSD Forecast:

The EURUSD still trapped in range area of 1.4450/80 – 1.4250 yesterday. While my technical strategy remains to short around 1.4450/80 or to buy around 1.4250 with tight stop loss (which proved to be profitable so far), we will have US NFP and unemployment rate today which is expected to bring us out from this choppy market. I prefer a bearish scenario and a break below 1.4250 support area today, but it will depend on the US employment data. US NFP is expected around 20.2K while unemployment rate expected at 10.1%. My opinion is if the actual numbers are at least the same with forecast, or better, Dollar should strengthen further. But if the actual numbers are worse than expected, Euro should get some support. Break below 1.4250 should continue the bearish scenario towards 1.4127 – 1.4000 area while break above 1.4450/80 should be seen as serious threat to the bearish outlook testing 1.4600 – 1.4800 area.