Eventual break of $1.1600 Thursday......>

EURO-DOLLAR: Eventual break of $1.1600 Thursday took rate to an extended low of

$1.1582 after the European close. Rate held heavy into the close. Early Asia

consolidated this move within a range of $1.1582/90 before rate slightly

extended the base to $1.1581 before it edged to $1.1595 ahead of Europe. Tech

traders suggest that the break below the pennant base of $1.1608 should keep

focus on the downside, while rate holds below. A fairly subdued session in Asia,

as is normally the case ahead of US NFP, with risk aversion continuing due to

ongoing US/China trade concerns. Below $1.1581 support noted at $1.1576/75(76.4%

$1.1509-1.1791/Jul19 low) ahead of a short term target of $1.1544(1.618% swing

$1.1621-1.1746). A break below this latter level leaves the YTD low of $1.1509

exposed. Resistance $1.1600/10 ahead of the NY high of $1.1632. EZ Services and

Composite PMI data released from 0715GMT, beginning with Spain. EZ Retail Sales

follows at 0900GMT. However, US Employment Report at 1230GMT takes the

spotlight, NFP median forecast 190k, unemployment rate 3.9% and AHE 0.3%.