Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.03369 with take profit at 1.03516
Bearish Preference:
Sell position is envisaged if price trades below 1.03071 with take profit at 1.02924
Fundamentals:
1:30pm USD PPI m/m
USD Core PPI m/m
USD Unemployment Claims
Comment:
European Stock Futures Higher; Weaker U.S. CPI Boosts Sentiment European stock markets are expected to open higher Thursday, boosted by strong gains on Wall Street overnight after weaker-than-expected U.S. inflation eased the pressure on the U.S. Federal Reserve to aggressively tighten monetary policy. European equities closed higher Wednesday and are expected to continue rallying on Thursday following the positive lead from Wall Street, after the blue chip Dow Jones Industrial Average closed up over 500 points, or 1.6%.
Analysis: SCRUM Team