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Instrument: EURUSD
Bullish Preference:
Buy position is envisaged if price trades above 16019.15 with take profit at 16036.89
Bearish Preference:
Sell position is envisaged if price trades below 159887.62 with take profit at 15973.39
Fundamentals:
EUR-ECB President Lagarde Speaks
USD-New Home Sales
Comment:
Outlook Turning Brighter for Europe
EURUSD held ground in an uneventful week, ending it as it had started, at around the 1.0900 mark. The Thanksgiving holiday and a scarce macroeconomic calendar kept the pair within a limited range, although some encouraging data maintained the sentiment upbeat, as figures supported the case for a softer economic setback and on-hold central banks.
Eurozone downturn slows
The Old Continent moves two steps behind the United States (US), but at least there were tepid signs the Eurozone may have left the worst behind. S&P Global released the preliminary estimates of the November Purchaser Manager Indexes (PMIs), most of which surprised to the upside.
Analysis: SCRUM Team
