Instrument: EURUSD
Intraday: BULLISH
Technical Analysis
Preference:
Buy position is envisaged if price trades above key level at 1.18450 with take profit at 1.18900
Alternative scenario:
Sell position is envisaged if price trades below 1.17500 with take profit at key level 1.17000
Fundamentals:
Main Refinancing Rate 12:45 pm EUR
Monetary Policy Statement 12:45 pm EUR
ECB Press Conference 1:30pm EUR
Unemployment Claims 1:30PM USD
Comment: EURUSD has currently been ranging at a support zone, however, the ECB gave optimistic comments on the current health of the EURO, hence weakening the dollar. It is envisaged that this pair will trade bullish today, although we will have to wait till the ECB policy statement comes out today.
Analysis: SCRUM Team