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Intraday: Bearish
Technical Analysis
Preference:
A Sell position is envisaged if price trades below 1.21809 with take profit at 1.21550
Alternative scenario:
Buy position is envisaged if price trades above 1.22155 with take profit at 1.22385
Fundamentals:
1:30 pm Unemployment Claims (USD)
Comment: This pair also started trading bearish after the Fed Chair made a statement clearing all doubts on the possibility of negative interest rate, this in turn made the dollar more like a safe haven to investors, 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
