• EUR/USD recovered from earlier losses on Wednesday and reached three day high after U.S. jobs data showed a softening labour market.
• U.S. job openings fell to a three-and-a-half-year low in July, indicating a gradual slowdown in the labor market.
• U.S. weekly jobless claims and the August ADP employment report are set for release on Thursday, with the August payrolls report following on Friday.
• Weaker-than-expected results could heighten investors' anticipation of a 50 basis point rate cut, potentially putting significant downward pressure on the dollar.
• Immediate resistance is located at 1.1090( 38.2%fib), any close above will push the pair towards 1.1138( 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 1.1070 , with stop loss of 1.0940 and target price of 1.1160
