Surprise continues to color the financial markets towards the end of the week ahead of the US NFP Job Data Report which will be the main focus.
The US Dollar re -shows its depreciation following the NFP ADP data report that measures the US private sector records weak reading figures, more than half -lower than expectations.
This has sparked an initial expectation that NFP reports at tonight's New York session could also decline.
In addition, market sentiment that returned from risk also put pressure on the US dollar as Safe-Haven's currency, following an increase in the global stock market.
On the EUR/USD currency pair chart, prices show a daily increase of about 100 pips on Thursday's trading.
The price spike has damaged the bearish pattern formed on the price chart from the beginning of the week to Wednesday.
Expectations for prices continue to decline, when prices rise above the 1.07000 level and surpasses the Moving Average 50 (MA50) barriers to the 1 hour framework have also signaled a change in price trends.
The price increase reached about 1.07500 at the end of the New York session yesterday was expected to continue a higher increase to the 1.08000 zone.
If the US dollar continues to weaken, it is likely that the zone will be successfully penetrated for the price to continue to record the latest 6 -week height.
However, if the NFP report tonight is strong and supports the reinforcement of the US dollar, prices can plummet and resume decrease.
Prices fall below the 1.07000 level will try to overcome the lowest price of the price to be dropped on Wednesday before targeting the RBS (Resistance become Support) 1.06000 zone for testing.
And subsequent decline will test previous price zones such as 1.05000 or 1.04000 in a clearer bearish trend movement.
