Instrument: EURUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.08127 with take profit at 1.08265.
Bearish Preference:
Sell position is envisaged if price trades below 1.07915 with take profit at 1.07787.
Fundamentals:
No major fundamental
Comment:
The dollar edged lower on Monday, with U.S. markets closed for a holiday, as investors weighed U.S. jobs data that showed some signs of cooling, boosting bets the Federal Reserve could be at the end of its monetary tightening cycle.
Against a basket of currencies, the dollar inched 0.1% lower to 104.14 but remained close to the two-month peak of 104.44 it touched on Aug. 25. The index gained 1.7% in August, snapping its two-month losing streak.
Data on Friday showed U.S. job growth picked up in August, but the unemployment rate jumped to 3.8%, while wage gains moderated. The economy created 110,000 fewer jobs than previously reported in June and July.
Analysis: SCRUM Team