Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 14762.75 with take profit at 14781.51.
Bearish Preference:
Sell position is envisaged if price trades below 14703.52 with take profit at 14684.73.
Fundamentals:
3:00pm USD ISM Services PMI
Comment: The U.S. economy is booming, but this is now a known and asset markets reflect it. What isn’t so clear anymore is at what price this growth will accrue, traders are also preparing for a potentially more hawkish tilt at the Federal Reserve. Minutes from the FOMC tomorrow could give some clues on the direction of monetary policy, as well as the tapering timeline. Besides the behind-the-scenes discussions, many speculate additional remarks on QE and bond-buying could come at Jackson Hole in August.
Analysis: SCRUM Team