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Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.15445 with take profit at 1.15550.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.15264 with take profit at 1.15180.
Fundamentals:
1:15PM USD ADP Non-Farm Employment Change
Comment: The dollar traded higher Wednesday, with this safe haven boosted by concerns rising energy prices will translate into higher inflation, prompting the Federal Reserve to promptly tighten its monetary policy. With the latest leg down, the EUR/USD pair has now reversed a major part of its gains recorded over the past three trading sessions.
Analysis: SCRUM Team
