• EUR/USD strengthened on Monday as the dollar eased asshifted to the U.S. jobs report set to be released on Friday.
• The highlight of the week will be Friday’s U.S. non-farm payrolls report, which is expected to show an increase of 165,000 jobs in August, up from 114,000 in July.
• The euro climbed 0.18% against the dollar to 1.1064, recovering from a low of 1.1044 hit earlier on Monday, its weakest level since August 19th.
• Technical signals are strongly bullish as RSI is at 54, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.1106( 38.2%fib), any close above will push the pair towards 1.1141( Aug 29th high).
• Strong support is seen at 1.1033(38.2%fib) and break below could take the pair towards 1.1000 (Psychological level).
Recommendation: Good to buy around 1.1050 , with stop loss of 1.0900 and target price of 1.1120
