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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13375 with take profit at 1.13458 .
Bearish Preference:
Sell position is envisaged if price trades below 1.13262 with take profit at 1.13180 .
Fundamentals:
No major fundamental
Comment: The Euro rallied half a percent on Friday after the US Dollar came under pressure after a mixed jobs report. Non-farm payrolls missed estimates at 199k instead of 450k anticipated for December, while the jobless rate fell to 3.9% instead of 4.1% expected and hourly earnings beat forecasts at 0.6% However, the Fed now look certain to be lifting rates at the March meeting and some commentators are now looking at 4 hikes this year. This is in contrast to a European Central Bank (ECB) that doesn’t look like moving rates anytime soon.
Analysis: SCRUM Team
