No important events are expected today.

The rally in commodities market will have a negative impact on the value of the U.S. currency, as metals and energy historically have an inverse correlation with the dollar. On Friday, the U.S. published the October labor market release, which recorded a slowdown in the pace of wage growth from 5% to 4.7%.

The figure fell to its lowest since December 2021, signaling a slowdown in inflation. Wages rose rapidly until March of this year, after which the trend reversed. The peak of inflation this year was recorded in June. In this background it is advisable to use the correction in the pair EURUSD towards the nearest support levels to open the Buy positions expecting growth of the quotes to the parity.

Recommendations: Buy 0.9900/0.9850 and TP 1.0000.