Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22480 with take profit at 1.22649.
Bearish Preference:
Sell position is envisaged if price trades below 1.22143 with take profit at 1.21990.
Fundamentals:
7:00 pm USD FOMC Meeting Minutes
Comment: The dollar edged marginally lower in early European trade Wednesday, remaining near multi-month lows ahead of the release of the eagerly-awaited minutes from the last U.S. Federal Reserve meeting.
The EUR is buoyed by looser restrictions in the old continent. Parisian terraces will reopen following a fall in COVID-19 cases. Final eurozone inflation figures are set to confirm the increase of 1.6% in the headline Consumer Price Index in April.
Analysis: SCRUM Team