Now as we gear up for the US session, the 1.42 level will be an important level to monitor. We may have bulls and bears battle it out here ahead and into the US session. If the direction is not clear as we start, we may have to wait until 8:30AM EDT, when the jobless claims report come out for the US. Previously at 400K and this week expected to be 401K, the market may use this as a pivot in time for a directional move in the short-term even though this is not a significant release in it of itself. A break below 1.4150 then should start the bearish scenario. A push above 1.4250, 1.4280 will be a convincing bullish ... (full story)