A series of higher highs and higher lows confirms the uptrend. This trend will remain intact as long as the pair stays above the November 2nd low of .8904, although a move down through .8944 could very well bring in more selling pressure. The US Department of Labor releases the Nonfarm Payroll this Friday morning at 830AM Eastern, so things could change dramatically before the weekend. So beware of opening any new positions this late in the week unless you intend on being out by Friday morning.
I would continue to look for buying opportunities as long as the market remains above .8904. However, I would wait until after the Nonfarm Payroll release to open any new positions.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.