European & US sessions forecast levels: 1.2480/1.2745
Trend Sessions: European: Upward
Market Focus: 8:30 AM Average Workweek, Hourly Earnings, Non-Farm Payrolls, Unemployment Rate, 2:00 PM Consumer Credit.
Daily Strategy: After the dollar gains by the interest rates cut in the Euro Zone follow a process of profit taken. The dollar will be set under pressure today with the forecast for strong rise of US unemployment rate and the people losing their jobs in January. There were couples of signals during the week to expect the Non-farm payrolls report with levels of -700K and Unemployment Rate to rise close 8.0%. The trading strategy is to follow the tendency and open long positions today.