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Instrument: US100
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 11203.19 with take profit at 11256.59
Bearish Preference:
Sell position is envisaged if price trades below 10955.57 with take profit at 10911.94
Fundamentals:
1:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
3:00pm USD Prelim UoM Consumer Sentiment
Comment:
The dollar edged higher on Friday after dropping the previous day despite U.S. inflation accelerating, helping it hit a 32-year peak against Japan’s yen. The greenback has been on a tear this year as the Federal Reserve has ramped up interest rates in an effort to tame inflation, pulling money back towards the United States. Fears about the global economy have also boosted the safe haven asset.
Analysis: SCRUM Team
