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Instrument: EURUSD
Technical Analysis
Bearish Preference:
Sell position is envisaged if price trades below 1.02191 with take profit at 1.02074
Bullish Preference:
Buy position is envisaged if price trades above 1.02706 with take profit at 1.02829
Fundamentals:
1:30pm USD Core PCE Price Index m/m
Comment:
Thursday’s data showed the U.S. economy contracted again in the second quarter, as the country’s gross domestic product fell at a 0.9% annualized rate last quarter, after a 1.6% contraction in the quarter before that. Two consecutive quarters of negative growth is widely seen as the technical definition of a recession, but the U.S. does not adhere to that definition.
Analysis: SCRUM Team
