The pair in an uptrend ahead of today’s jobs data release in the US. The American economy is expected to have created 978,000 jobs compared to 916,000 in the previous month. If non-farm payrolls aren’t below the predictions or even beat them, the dollar will rise. In the opposite scenario, a limited decline will be expected. In any case, the movements will remain local.
Technical picture:
The price is above the middle Bollinger band, above SМА 5 and SMA 14. RSI is above the 50% level and indicates a weaker growth. Stoch are in the overbought zone.
EURUSD rate online: monitor the price movement in real time.
Trading idea:
Act based on the jobs data when it’s released. If the pair goes above 1.2090, it may rise further locally to 1.2150. If the data is favorable for the dollar, it will likely go down to 1.1990.