Instrument: EURUSD
Bullish Preference:
A buy position is envisaged if the price trades above 1.07070 with take profit at 1.07221
Bearish Preference:
A sell position is envisaged if the price trades below 1.06843 with take profit at 1.06708.
Fundamentals:
None with High Impact
Comment:
The dollar headed on Friday for its longest weekly winning streak in nine years, bolstered by a resilient run of U.S. economic data that has put the end of the Federal Reserve’s aggressive rate-increase cycle into question.
Data out this week showed the U.S. services sector unexpectedly gained steam in August and that jobless claims last week hit their lowest level since February, while in the eurozone, industrial production in Germany, Europe’s largest economy, fell by slightly more than expected in July.
Analysis: SCRUM Team