Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.16793 with take profit at 1.16889.
Bearish Preference:
Sell position is envisaged if price trades below 1.16544 with take profit at 1.16441.
Fundamentals:
1:30pm USD Core PCE price Index
USD Chicago PMI
3:00pm USD Revised UoM Consumer Sentiment
Comment: The dollar hovered near its weakest level in a month against major peers on Friday, hurt by a stronger euro as traders bet on earlier European interest rate increases and as an equity rally sapped demand for safer assets. The euro slipped 0.1% to $1.1666 after rising as high as $1.1692 overnight for the first time since Sept. 28.The euro was lifted on Thursday after comments by European Central Bank President Christine Lagarde were interpreted in some quarters as not going far enough in affirming the central bank’s dovish stance.
Analysis: SCRUM Team
