Today I do not expect strong volatility in this currency pair. Investors will take a wait-and-see attitude ahead of tomorrow’s data on the US labor market. The Federal Reserve will closely monitor the Non-Farm indicator, and against this background, strong movements in the foreign exchange market can be expected tomorrow.

On the eve, the ADP agency presented its employment report, which reported an increase in the number of workers in the private sector by 568 thousand. If you look at the statistics of the last year, then in most cases the Non-Farm indicator turned out to be better than the ADP indicator, and against this background, we can expect an indicator of 600 thousand tomorrow. On the one hand, this is a good indicator for the American economy. On the other hand, this is clearly not enough for the Fed to start cutting QE from December 1.

Trading recommendation: flat 1.1525 – 1.1620.