Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19407 with a take profit 1.19557.
Bearish Preference:
Sell position is envisaged if price trades below 1.19250 with take profit at 1.19100.
Fundamentals:
no major economic data with direct bearing to this pair.
Comment: The dollar has seen significant rise in more unemployment claims, couple with a GDP growth of 33.1% which is positive created mixed sentiment; seeing how investors get conservative in a mixed sentiment, they tend to invest in a different thing entirely, this is the reason why we have seen the EUR rising rapidly against the dollar. This pair is also likely going to go above the verifies resistance stemming from the fact that we have a bank holiday in the US today.
Analysis: SCRUM Team