The upward move of the single European currency against the U.S. dollar since the end of last week was limited to the resistance level at 1.1907.
The subsequent depreciation can be considered as a corrective move in order to find better levels for market entry. The forecast is rather positive – for another attack on the resistance level at 1.1907.
The most important economic news scheduled for this week will happen near its end when the non-farm payrolls change data for the U.S. will be announced (Friday; 12:30 GMT), as well as the data on the unemployment rate for the U.S. (Friday; 12:30 GMT).
