Hourly Chart
The hourly chart shows the bird may be forming an inverted head and shoulder formation.
Watch out for a rebound to neckline level of 1.0975 ahead of the payrolls report. That for me would be an indication of a weaker-than-expected NFP release. I won’t recommend jumping into longs ahead of the report, but that for me would be a signal to stay away from shorts.
Financial Markets Squawkbox 