Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.21710 with take profit at 1.21826.
Bearish Preference:
Sell position is envisaged if price trades below 1.21490 with take profit at 1.21370.
Fundamentals:
No major fundamental
Comment: It was another disappointing NFP release out of the United States and this seemingly removes a bit of pressure from the Federal Reserve just a couple of weeks ahead of a really big meeting. The tension is driven by just how ‘transitory’ inflation might be. In Q1, market participants started getting worked up as observations of markets like Lumber or Copper brought along inflationary fears. US Treasury rates started to move up in response, and then in April and May, inflation stats started to show some pretty large jumps.
Analysis: SCRUM Team