Instrument: EURUSD+
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.09166 with take profit at 1.09312
Bearish Preference:
A sell position is envisaged if the price trades below price 1.09008 with take profit at 1.08922
Fundamentals:
No high-impact fundamental.
Comment:
Dollar edges higher on safe-haven flows; caution ahead of payrolls. The U.S. dollar edged higher in early European trade Thursday with weakening risk sentiment benefiting this safe haven but remains near two-month lows as a cooling economy points to a pause in the U.S. Federal Reserve rate-hiking cycle. Economic data coming out of the U.S. has pointed to slowing economic growth, with the services sector expanding at a more measured rate in March as demand cooled, while U.S. job openings dropped to their lowest in nearly two years in February. Fears that this will result in a recession in the world’s largest economy have hit risk sentiment, with the safe-haven dollar benefiting, particularly ahead of the Easter holiday weekend.
Analysis: SCRUM Team