Support/Resistance: 1.2215 - 1.2395
Retail Sales is on focus today as we expect positive report. Also expect today Empire Manufacturing, Business Inventories and Net Long-Term TIC Flows.
The expecting new sanctions against Russia and the escalating conflict in Syria may soon influence over the Dollar therefore we will focus over the geopolitics that may start leading for the Forex markets.
As overall already two months Euro/Dollar is in consolidation process in the levels of 1.2150 and 1.25.
The Dollar may make small gains against the Euro to levels of 1.22 in the next few days. Our trading strategy for today is to trade into neutral direction and try to open short positions with gains of 25-40 pips.