Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.18586 with take profit at 1.18691
Bearish Preference:
Sell position is envisaged if price trades below 1.18433 with take profit at 1.18337.
Fundamentals:
1:30PM USD Unemployment Claims
6:00PM USD FOMC Member Bostic Speaks
8:00PM USD FOMC Member Daly Speaks
Comment: Improvements in the U.S. labor market are key to the Federal Reserve’s thinking over when to start winding down its massive bond-buying program. This was made clear in Chairman Jerome Powell’s speech at the virtual Jackson Hole symposium on Friday. With this in mind, Friday’s release of the nonfarm payrolls figure for August looms large, with economists looking for 750,000 jobs to have been created last month, a drop from July’s 943,000.
Analysis: SCRUM Team