Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19091 with take profit at 1.19286.
Bearish Preference:
Sell position is envisaged if price trades below 1.18818 with take profit at 1.18629.
Fundamentals:
1:30 Pm USD Core PPI m/m
USD PPI m/m
3:00 pm USD Final Wholesale Inventories m/m
Comment: The dollar edged higher in early European trading Friday, but remains anchored near two-week lows following disappointing jobless figures and with the Federal Reserve showing no signs for changing its ultra easy monetary policy stance.
Hence, EUR/USD partially reverses Thursday’s move to new multi-day highs in the vicinity of the 1.1930 zone and returns to the 1.1900 neighborhood on the back of the resumption of the demand for the greenback.
Analysis: SCRUM Team