Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13521 with take profit at 1.13636.
Bearish Preference:
Sell position is envisaged if price trades below 1.13188 with take profit at 1.13084.
Fundamentals:
2:30pm USD Core PCE Price Index m/m
Comment: European stock markets are expected to open marginally higher Thursday, continuing the global rally amid growing confidence that the global economic recovery will survive the surge of Omicron variant cases. However, gains are likely to be limited Thursday with many investors on holiday and with the Omicron variant causing infections to double in 1.5 to 3 days, according to the World Health Organization. The U.K. recorded over 100,000 daily cases on Wednesday for the first time ever.
Analysis: SCRUM Team