Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19114 with take profit at 1.19228.
Bearish Preference:
Sell position is envisaged if price trades below 1.18924 with take profit at 1.18817.
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change
Comment: The dollar maintained its recent positive tone in early European trade Wednesday, as the spreading outbreak of Covid-19 cases in Asia prompts risk aversion ahead of the release of key U.S. jobs data.
Eurozone consumer prices are due today, and are expected to tick down in year-on-year terms. That may take the wind out of the sails of the ECB’s more hawkish members.
Analysis: SCRUM Team
