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EUR/USD - A Breakout and Confirmation

During the 9/1 Asian session, I was looking at some euro-crosses. I noted that EUR/USD provided a bullish signal, and that EUR/CAD looked bearish. Let's take a quick look at the EUR/CAD then focus on the EUR/USD.

EUR/CAD 1H Chart 9/1
(click to enlarge)

When I said EUR/CAD was bearish, remember it was in the 1H chart, within the context of a consolidation. I was pointing out the resistance in that 1.4950-1.50 area, with anticipation starting at 1.49. Indeed, the market faded EUR/CAD in the Asian-European session from the 1.4965. However, as you can see in the 1H chart, the dip failed to go to 1.47. I was hoping for another swing to break 1.47, but seeing that it failed and was rejected sharply, the bearish outlook was shelved. This is a case of minimal profit. 

Now, the fact that the pair was unable to make a lower low suggests I should not respect the 1.4950-1.50 area as much as I did in the previous session. A break above 1.50 would be a strong bullish sign at least towards 1.52.

EUR/USD 1H chart 9/1
(click to enlarge)

The EUR/USD shifted from a bearish swing towards the end of August to a sideways action at he turn of the month. It capped the month breaking out of a triangle, and that's when I mentioned a possible bullish outlook in he short-term. 

Looking at it now, we saw resistance by the 200-hour simple moving average, which tells us bears are still in here. Then, US session traders supported the pair above the 50-hour SMA. It also looks like a confirmation that the broken triangle is a price bottom. 

Again, this is a short-term outlook, ahead of the NFP. IT seems like the USD is indeed weak across the board so far. Perhaps, it will become a little more resilient as the event risk approaches Friday. Therefore, the bullish outlook for me is limited to 1.14 at the moment.