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Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.08031 with take profit at 1.07809
Alternative scenario:
Buy position is envisaged if price trades above 1.08328 with take profit at 1.08779
Fundamentals:
1:30 pm Unemployment Claims (USD)
Comment: This pair got rejected at the 1.08 level after the Fed Chair made a statement squashing all thoughts of a negative interest rate, this in turn put more confidence in the US dollar, causing an influx in more investors buying the dollar. It is envisaged that pair will continue trading bearish pending the next job claims news.
Analysis: SCRUM Team
