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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.15898 with take profit at 1.15990
Bearish Preference:
Sell position is envisaged if price trades below 1.15696 with take profit at 1.15618
Fundamentals:
None with high impact on the pair.
Comment: Despite Friday’s modest rebound, the EUR/USD pair closed the fifth straight week in the negative territory. With the market mood turning cautiously optimistic on Monday. The US Bureau of Labor Statistics reported on Friday that Nonfarm Payrolls in September rose by 194,000. Although this print missed the market expectation of 500,000, the dollar stayed relatively resilient against its major rivals on the back of surging US Treasury bond yields.
Analysis: SCRUM Team
