Support/Resistance: 1.2270 - 1.2390
Today is a rich day of fundamental events from Europe and United States. The most important event comes in the morning at 8:00 AM GMT Non-monetary policy's ECB meeting. The rest important events are 30 minutes and one hour later like Germany and EU Markit Services PMI, Markit Manufacturing PMI, Markit Services PMI and Markit PMI Composite. From United States expects Existing Home Sales and key FOMC Minutes at 14:00 Eastern Time.
These events will move the market today. The expectations are for dynamic day with movements into both directions.
Our trading strategy today is to open short position in the morning European session and probably the end of downtrend later during the day with chances for Euro recovery.