Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.11625 with take profit at 1.11804.
Bearish Preference:
Sell position is envisaged if price trades below 1.11277 with take profit 1.11109.
Fundamentals:
1:30pm USD Core PCE Price Index m/m
USD Unemployment Claims
2:45pm USD Chicago PMI
Comment:
The U.S. dollar edged lower Thursday ahead of key employment data, while the euro held at a one-month high against the greenback on hopes the Ukraine/Russia conflict is heading towards a de-escalation phase. The U.S. Federal Reserve lifted interest rates earlier this month and signaled a series of increases ahead to combat soaring inflation, so long as the economy didn’t retreat into recession, as an inverted yield curve has warned about.
Analysis: SCRUM Team