TD Research likes selling EUR/USD around current levels (spot ref: 1.2165) targeting a move towards 1.18, with a stop at 1.2450.

"While inherently risky ahead of an NFP release, we are entering a short EURUSD position in our Model Portfolio....While we are strategic bulls, the region's economy continues to suffer from a prolonged downturn. We think further gains will be very hard-won from here," TD notes. 

"As a result, we are now fading the move and entering a short at 1.2165, targeting a move down to 1.18 with a one-month expected horizon," TD adds.