Instrument: EURUSD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.18720 with take profit at 1.18820
Alternative scenario:
Sell position is envisaged if price trades below 1.18560 with take profit at key level at 1.18460
Fundamentals:
8:30 am EUR German Flash Services PMI
German Flash Manufacturing PMI
2:45 pm USD Flash Manufacturing PMI
Comment: The Greenback performed poorly yesterday and also Wall Street was knocked from its recent highs after the Fed’s minutes from its July meeting spooked investors by showing that the swift labour market rebound seen in May and June had likely slowed with the Euro basking in an euphoria of stability in recent times.
Analysis: SCRUM Team