Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.05087 with take profit at 1.05288
Bearish Preference:
Sell position is envisaged if price trades below 1.04854 with take profit at 1.04724
Fundamentals:
1:30pm USD Philly Fed Manufacturing
Index
USD Unemployment
Claims
Comment:
European stock markets traded sharply lower Thursday, continuing the global selloff with investors unnerved by fears over widespread inflation and a potential global economic slowdown. European equities have followed on from weakness in Asia earlier Thursday and after a dramatic selloff on Wall Street overnight, with the blue-chip Dow Jones Industrial Average dropping over 1,100 points, or 3.6%, its biggest one-day loss since 2020.
Analysis: SCRUM Team