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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 1.20945 with take profit at 1.21095.
Bearish Preference:
Sell is envisaged if price trades below 1.20399 with take profit at 1.20249.
Fundamentals:
1:30 PM USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment: EUR/USD picks up bids around 1.2068, up 0.03% intraday, while heading into Friday’s European session. In doing so, the currency major pair portrays a typical pre-NFP trading lull after rising the most in two weeks the previous day.
On Thursday, the US and the European Union (EU) agreed to back the waiver of the coronavirus (COVID-19) vaccine patent protections. The move triggered market optimism as it will speed up jabbing, especially important for the bloc which has been struggling to fasten the inoculations.
Analysis: SCRUM Team
