All traders’ attention today will be focused on the statistics on the US labor market for September. The Non-Farm indicator may come out better than the median forecasts, however, I do not expect a value of about 1 million, which will not be enough for the Fed to start aggressively cutting QE.

The first reaction of the market may be positive for the dollar, but then the market will reverse and a mild strengthening of the euro can be expected, inasmuch as investors will expect the stimulus measures to remain in the same volume until January 1 of next year. The US Federal Reserve will buy $12.4 billion in Treasury bonds tonight, which will also put short-term pressure on the dollar.

Trading recommendation: flat 1.1515 – 1.1620.