Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19052 with take profit at 1.19223.
Bearish Preference:
Sell position is envisaged if price trades below 1.18722 with take profit at 1.18591.
Fundamentals:
9:00am EUR German Prelim GDP q/q
1:30pm USD Core PCE Price Index m/m
2:45pm USD Chicago PMI
3:00pm USD Revised UoM Consumer Sentiment
Comment: The dollar languished near a one-month low on Friday and was poised for its worst weekly performance since May as dovish remarks by the U.S. Federal Reserve together with underwhelming economic data took the steam out of a month-long rally while in the Eurozone, European stock markets are expected to open lower Friday, weighed by more losses in Asia overnight and ahead of important growth data and more corporate earnings.
Analysis: SCRUM Team