Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.15729 with take profit at 1.15809
Bearish Preference:
Sell position is envisaged if price trades below 1.15534 with take profit at 1.15428
Fundamentals:
1:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment: The Federal Reserve indicated at its last meeting that it is likely to begin reducing its monthly bond purchases as soon as November to be followed by interest rate increases potentially next year. The dollar edged higher Friday ahead of the release of the highly-anticipated monthly U.S. jobs report, which looks likely to confirm assumptions that the Federal Reserve will start to normalize monetary policy in November.
Analysis: SCRUM Team