More Of The Same

The EUR/USD currency pair continues to consolidate in a week where US non-farm data will be released on Friday. ADP employment numbers will be released today at 14:30 GMT. Historically most traders have paid little attention to this data, but over the past few months it has been an accurate precursor to the non-farm report. Some traders may try to position themselves today based on that report. As the US dollar weakness continues we will look to be long on the Euro. Our first resistance should be ahead of 1.4200.