Gross Domestic Product has been released and there will be SNB Chairman Thomas Jordan talk in Switzerland. The US will publish ADP Non-Farm Employment Change, Unemployment Claims and ISM Non-Manf.
The support rests at 0.97940 with resistance at 0.98530 which the weekly pivot point at 0.98430 is located in between the lines. The EMA of 10 is moving with bearish bias in the descendant channel and it is located above the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 0.98800.
