Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.14915 with take profit at 1.15079.
Bearish Preference:
Sell position is envisaged if price trades below 1.14508 with take profit at 1.14344.
Fundamentals:
11:00am: EU Economic Forecast
Comment: U.S. consumer price index surged 6.2% on an annual basis last month, according to data released on Wednesday, climbing at the fastest pace since 1990, boosting the case for faster Federal Reserve policy tightening. However, the tone is more circumspect in Europe as the region’s central bank is seen as being way behind the Fed in terms of reining in its accommodative monetary policy stance. Only last week President Christine Lagarde stated that the European Central Bank is very unlikely to raise interest rates next year as inflation remains too low.
Analysis: SCRUM Team