Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.18192 with take profit at 1.18287.
Bearish Preference:
Sell position is envisaged if price trades below 1.17888 with take profit at 1.17784.
Fundamentals: None with High Impact on the Pair
Comment: The dollar drifted in tight trading ranges Wednesday, with the recent release of soft U.S. inflation data raising uncertainty over whether the Federal Reserve will start its stimulus withdrawal this year. Tuesday’s U.S. inflation data for August came in below expectations, with the core consumer price index, which excludes the volatile food and energy components, edging up just 0.1% last month. This suggested that the upward pressure on inflation was starting to wane.
Analysis: SCRUM Team