Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.16135 with take profit at 1.16248
Bearish Preference:
Sell position is envisaged if price trades below 1.15775 with take profit at 1.15651
Fundamentals:
1:30pm USD Core PCE Price Index m/m
3:00pm USD ISM Manufacturing PMI
Comment: EUR/USD starts the month in the lower end of the range and close to recent YTD lows near 1.1560 (September 30) against the backdrop of the generalized rangebound theme in the global markets and lack of direction in the greenback. In the meantime, yields of the US 10-year note edge higher and approach the 1.50% yardstick, while yields of the German 10-year Bund lost some ground and return to the -0.21% area so far at the end of the week.
Analysis: SCRUM Team
