Fristly, US data recent days performed very well but it's not enough to support USDollar .
Absolutely, we watch Payrolls on Friday and perhaps FOMC Minutes on Wednesday to find some signals to trade.
Secondly, Eurozone begins new year with many threat from terrorist; it just a small piece of a bigger picture. I think the biggest economy of Eurozone : Germany : would face a strong problem in 2016. Of course, someone will criticize me becuase Germany has the person of year: Madam Merkel, but I keep my point.
Markit PMI data is the central focus of EZ and Germany this week. I expect positive data.
Indeed, I don't know how to trade E/U this week, hard to say BUY or SELL.
E/U now is capturing between a tight range: 1.1050 and 1.0800 I draw on the chart.
I think in the short term, with lack of catalyst to guide the trend, E/U should trade in this range at least for 1 month.
1.1050 is actually a strong resistance because SMA100+SMA200 are lying at level.
I think the best trade is SELL at 1.1050 and BUY at 1.0800
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