Instrument: EURUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.09314 with take profit at 1.09448
Bearish Preference:
Sell position is envisaged if price trades below 1.09058 with take profit at 1.08936
Fundamentals:
None with Expected High Impact
Comment:
The dollar rebounded on Friday after Federal Reserve Bank of New York President John Williams pushed back against the market’s rate cut expectations, though the dollar index remained on track for its worst weekly performance in a month.
Investors are nonetheless still betting heavily on rate cuts from both central banks next year.
The ECB has more scope than most to ease, according to Pepperstone strategist Chris Weston, given low euro zone growth and a rapid decline in inflation.
Analysis: SCRUM Team