Instrument: EURUSD
Intraday: BEARISH
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.18330 with take profit at key level 1.17250
Alternative scenario:
Buy position is envisaged if price trades above key level at 1.18745 with take profit at 1.19500
Fundamentals:
1:30pm Average Hourly Earnings m/m USD
1:30pm Non-Farm Employment Change USD
1:30pm Unemployment Rate USD
Comment: EURUSD has currently been ranging at a support zone, gathering order flows as investors are currently waiting for the NFP to be released by 1:30pm today. Most investors are confident the US dollar will get a boost from this news, hence, a bearish move is envisaged on this pair.
Analysis: SCRUM Team
