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Instrument: EURUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.05975 With Take profit at 1.06257
Bearish Preference:
Sell position is envisaged if price trades below 1.05563 with Take profit at 1.05336
Fundamentals:
(Medium Impact News)
1:30pm USD Building Permits
5:00pm USD FOMC Member Waller Speaks
8:15pm USD FOMC Member Harker Speaks
Comment:
The dollar index weakened slightly in Asian trade, but remained close to 11-month peaks. Data released overnight showed that U.S. retail sales grew more than expected in September, pushing up concerns over sticky inflation, which could keep the Federal Reserve hawkish.
This also came before a string of Fed speakers this week, most notably Chair Jerome Powell on Thursday. Markets remained wary of any more hawkish signals from Powell, after he signaled higher-for-longer rates at the Fed’s September meeting.
Analysis: SCRUM Team
