Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 15349.43 with take profit at 15366.71.
Bearish Preference:
Sell position is envisaged if price trades below 15279.49 with take profit at 15263.05.
Fundamentals:
USD All Day Jackson Hole SymposiumUSD 1:30PM- Prelim GDP q/q
Comment: Investors have turned more positive on the outlook since the U.S. Food and Drug Administration fully approved the COVID-19 vaccine made by Pfizer (NYSE:PFE) and BioNTech on Monday, in a move that could accelerate U.S. inoculations. Overnight, data showed new orders for key U.S.-made capital goods were steady in July, while an acceleration in shipments suggested business investment in equipment could offset an anticipated slowdown in consumer spending and keep the economy on a solid growth path in the third quarter.
Analysis: SCRUM Team