EURO BUYERS STILL IN CONTROL ABOVE 1.2050

The euro has moved to another new-weekly trading high against the U.S dollar, hitting 1.2089, on Thursday, as strong ADP jobs numbers helped risk-on sentiment in global markets. The EURUSD pair fell just short of the 2017 price-high, at 1.2093, creating a bearish double-top pattern on the price-charts. Price-action currently trades around the 1.2070 level, as buying momentum for euros remains strong. Financial markets now look to the U.S Non-farm payrolls job report, with economists expecting 190,000 new jobs were created during December.

• The EURUSD pair is strong bullish while trading above the 1.2050 level, intraday targets above the 1.2093 level are 1.2150 and 1.2200.

• Should the EURUSD pair decline below the 1.2050 level, again, sellers will look to test the key 1.2030 region and the psychological 1.2000 level.