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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.05516 with take profit at 1.05667
Bearish Preference:
Sell position is envisaged if price trades below 1.05168 and take profit at 1.05035
Fundamentals:
2:30pm USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment:
Equity markets have benefited this week from comments by Federal Reserve Chair Jerome Powell indicating that the U.S. central bank is considering slowing the pace of its interest rate increases at its final policy-setting meeting later this month. The Fed has hiked by 75 basis points at its last four meetings, but the market is now positioning for a smaller cut of 50 basis points on Dec. 14.
Analysis: SCRUM Team
