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Daily Market Analysis 29.11.2023: EURUSD

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Instrument: EURUSD

Bullish Preference: 
A buy position is envisaged if the price trades above 1.10088 With take profit at 1.10146
Bearish Preference: 
A sell position is envisaged if the price trades below 1.09556 with Take profit at 1.09490
Fundamentals:
EUR ALL DAY : German Prelim CPI m/m
Spanish Flash CPI y/y
2:30pm USD: Prelim GDP q/q
USD: Prelim GDP Price Index q/q

Comment: 
EUR/USD is trading below 1.1000, losing its upside traction in the European session on Wednesday. The pair is holding steady, as the US Dollar finds its feet despite a sell-off in the US Treasury bond yields. Traders stay cautious ahead of the German inflation and US GDP data.

Analysis: SCRUM Team

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