Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22136 with take profit at 1.22270.
Bearish Preference:
Sell position is envisaged if price trades below 1.22021 with take profit at 1.21915.
Fundamentals:
No Major Fundamentals
Comment: European stock markets traded higher Tuesday, helped by promises of continued Federal Reserve largesse along with better than expected U.K. employment data. Dallas Federal Reserve President Robert Kaplan on Monday reiterated his view that he does not expect interest rates to rise until next year. Wednesday’s release of the minutes from the Federal Reserve’s April policy meeting, which could shed more light on the policymakers’ outlook on inflation.
Analysis: SCRUM Team