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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.21507 with take profit at 1.21687.
Bearish Preference:
Sell position is envisaged if price trades below 1.21203 with take profit at 1.21017.
Fundamentals:
1:30 pm USD CPI m/m
USD Core CPI m/m
Comment: The dollar edged higher in early European trade Wednesday, but remains near recent lows ahead of a key U.S. inflation release.
Investors now await the latest U.S. consumer inflation data, which is expected to show a 3.6% lift in year-on-year prices, boosted by last April’s low base. This would be the largest jump since September 2011.
Analysis: SCRUM Team
