• EUR/CAD rebounded strongly after underwhelming U.S. nonfarm payrolls data sharply increased market expectations for Federal Reserve rate cuts.
• The softer labor market figures weighed on the dollar, giving the euro a strong upward push.
• Today’s U.S. employment report showed a marked slowdown in job growth for July, casting doubt on the persistence of inflation pressures recently highlighted by Fed Chair Jerome Powell.
• The softer than-expected data prompted rate markets to price in a near-certain Fed rate cut in September up sharply from a 45% probability before the release.
• Technical signals are bullish as RSI is heading up at 51, daily momentum studies 5,9 and 11 DMAs are trending north.
• Immediate resistance is located at 1.5969(SMA 20), any close above will push the pair towards 1.6125(23.6%fib).
• Support is seen at 1.5759(38.2%fib) and break below could take the pair towards 1.5741(Lower BB).
Recommendation: Good to buy around 1.5920, with stop loss of 1.5850 and target price of 1.6050


FxWirePro: USD/JPY hovers near 160, outlook bullish
JPY Major Currency Scores: USDJPY and GBPJPY Lead Bullish Trend
Bitcoin Dips Before the Flip: Whales Load Up $3B as $80K Rebound Looms
FxWirePro: GBP/NZD downtrend loses steam but outlook still bearish
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path
NZDJPY Faces Downward Pressure as 95.40 Resistance Holds Firm
Major Pair Currency Scores: USDCHF Leads as Bullish Contender and major levels to watch
FxWirePro: USD/CNY hovers near 3 -1/2 year low , outlook bearish
Gold Tumbles Below $4400 Amidst Hawkish Fed Signals: Sell Rallies for Targets Near $4200
AUDJPY Pares Gains: Bullish Trend Intact Above 114 Despite Profit-Taking
FxWirePro: GBP/AUD dips below 1.9000 level , vulnerable to more downside
FxWirePro- Major Pair Currency Score (AUDUSD Bullish)
FxWirePro: NZD/USD edges higher ahead of RBNZ decision
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation
FxWirePro:EUR/NZD gains some ground but outlook is bearish
FxWirePro: EUR/NZD neutral in the near term, scope for downward resumption 



