Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.97431 with take profit at 0.97583
Bearish Preference:
Sell position is envisaged if price trades below 0.96937 with take profit at 0.96823
Fundamentals:
1:30pm USD PPI m/m
7:00pm USD FOMC Meeting Minutes
Comment:
The U.S. is to release the consumer price index report for September on Thursday followed by retail sales figures, also for last month, on Friday. Recent comments by Federal Reserve officials have indicated that turbulence in financial markets would not deter them from acting to lower inflation. Investors are worried that the Fed’s efforts to tackle inflation with jumbo-sized rate hikes could tip the economy into recession.
Analysis: SCRUM Team