Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.15721 with take profit at 1.15804.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.15470 with take profit at 1.15368.
Fundamentals:
1:30pm USD Unemployment Claims
Comment: The dollar edged lower Thursday as a compromise over the U.S. debt ceiling appeared likely, but the world’s safe haven remained near recent highs as sky-high energy prices added to worries that elevated inflation levels will pressure the Federal Reserve to quickly tighten its monetary policy. This puts the focus squarely on the weekly jobless claims due later Thursday, but, more importantly, Friday’s official employment report, with nonfarm payrolls seen rising by 488,000 jobs, up from 235,000 jobs added the previous month.
Analysis: SCRUM Team