EUR/USD is trading in a tight and well defined range between 1.2360 and 1.24, ahead of the monthly release of the US jobs report. Draghi did not deliver this time and sent a message that the ECB needs more time before it decides on QE, but it seems clear he supports it. So while the pair is off the pre-ECB lows, it is below the post-ECB highs. How will the pair end the week? Here’s a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair traded in range after the storm. Current range: 1.2360 to 1.24. Further levels in both directions: Below: 1.2360, 1.2280, 1.2250, 1.2140, 1.2042 and 1.1876. Above: 1.24, 1.2440, 1.25, and 1.2570 1.2360 returns to support 1.2440 is serious resistance above 1.24. EUR/USD Fundamentals 7:00 German Factory Orders. Exp. 0.6%, actual 2.5%. 10:00 Euro-zone revised GDP. Exp. +0.2%. 13:30 US Non-Farm Payrolls. Exp. +231K. See how to trade the NFP with EUR/USD. 13:30 US unemployment rate. Exp. 5.8%. 13:30 US participation rate. Last was 62.8%. 13:30 US average hourly earnings. Exp. +0.2%. Last y/y was 2%. 13:30 US trade balance. Exp. -41.3 billion. 13:45 US FOMC member Loretta Mester talks. 15:00 US Factory orders. Exp. 0%. 19:45 US FOMC member Stanley Fischer talks. 20:00 US consumer credit. Exp. 16.5 billion. * All times are GMT. For more events and lines, see the Euro to dollar forecast. EUR/USD Sentiment Draghi did not deliver: Contrary to his sense of urgency in previous statements, the ECB president did not announce any imminent QE but rather offered a “wait and see” mode for potential action in “early 2015”. It seems that the Germans pushed back and that there was a lot of disagreement. This triggered a big EUR/USD rally. However, the ECB did significantly cut its growth and inflation forecasts that were made before the recent sharp drop in oil prices. In addition, it is working on QE scenarios. Here are 5 reasons why this EUR/USD jump could be a sell opportunity. Non-Farm Payrolls: The first hint towards the NFP was positive: ISM manufacturing PMI beat expectations. ADP disappointed with only 208K jobs, slightly below predictions. Also the employment component of the ISM Non-Manufacturing PMI ticked down, but still remained high and also the headline figure was promising. US jobless claims dropped to 297K as expected. All in all, expectations are probably consistent with the original projections of 225K. In our latest podcast, we preview December’s big events, talk about the importance of jobless claims, the crash in oil prices and GOFO going negative: Download it directly here. Subscribe to our podcast on iTunes. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam EUR/USD DailyForex News Today: Daily Trading News share Read Next USD/JPY could face resistance despite ongoing uptrend; AUD/JPY looking Gregor Horvat 8 years EUR/USD is trading in a tight and well defined range between 1.2360 and 1.24, ahead of the monthly release of the US jobs report. Draghi did not deliver this time and sent a message that the ECB needs more time before it decides on QE, but it seems clear he supports it. So while the pair is off the pre-ECB lows, it is below the post-ECB highs. How will the pair end the week? Here's a quick update on technicals, fundamentals and sentiment moving the pair. Asian session: The pair traded in range after the storm. Current range: 1.2360 to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.