Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.07782 with take profit at 1.08059
Bearish Preference:
A Sell position is envisaged if the price trades below price 1.07483 with take profit at 1.07276
Fundamentals:
2:30pm USD CPI m/m USD CPI y/y
USD Core CPI m/m
Comment:
U.S. stocks are seen edging higher at the open Wednesday, building on what has been a positive start to the year as investors await more corporate earnings and key inflation data. Wall Street has generally seen gains at the start of the new year with investors expecting the Federal Reserve to slow the pace of its interest rate hikes–seeing a 25-basis-point U.S. rate hike next, down from 50 basis points in December–in an attempt to bring down inflation without tipping the U.S. economy into a deep recession.
Analysis: SCRUM Team
