Instrument: EURUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.08721 with take profit at 1.08900.
Bearish Preference:
A sell position is envisaged if the price trades below price 1.08352 with take profit at 1.08240.
Fundamentals:
1:30pm
USD Final GDP q/q
USD Unemployment Claims
Comment:
The U.S. dollar edged lower in early European trade Thursday, but volatility is limited ahead of weekly employment and quarterly growth data which could provide clues for future Federal Reserve action. Receding concerns over the banking sector have resulted in traders switching their attention to the Federal Reserve’s battle against inflation. Friday sees the release of the Fed’s favorite gauge of inflation, the core PCE price index, but ahead of that comes the release of weekly jobless claims data and the preliminary fourth-quarter growth data, providing further clues about economic activity in the world’s largest economy.
Analysis: SCRUM Team
