Instrument: EURUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1.18378 with take profit at price 1.18494.
Bearish Preference:
A sell position is envisaged if price trades below price 1.18245 with take profit at price 1.18145.
Fundamentals:
EUR 12:45PM Monetary Policy Statement Main Refinancing Rate
1:30PM ECB Press Conference
USD 1:30pm Unemployment Claims
4:00PM FOMC Member Daly Speaks
Comment: European stock markets weakened Thursday, with investors cautious ahead of a key meeting of the European Central Bank against a backdrop of rising inflation and slowing global growth. The dollar was hit hard by Friday’s disappointing jobs report, which the market took to suggest that the Federal Reserve’s tapering of its bond-buying program would be delayed. However, the mood has turned a little more risk averse since, with several Fed policymakers on Wednesday signalling the U.S. central bank remains on track to reduce asset purchases this year even while rising Covid cases suggested a slowing in economic growth.
Analysis: SCRUM Team