Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22084 with take profit at 1.22194.
Bearish Preference:
Sell position is envisaged if price trades below 1.21882 with take profit at 1.21796.
Fundamentals:
1:00pm EUR ECB President Lagarde Speaks
1:30pm USD Philly Fed Manufacturing Index Unemployment Claims
Comment: U.S. stocks are seen opening sharply lower Wednesday, continuing the downward move from the previous session, with the tech sector under particular pressure ahead of the minutes of the latest Federal Reserve meeting. The minutes of the April meeting of the Fed’s Open Market Committee will be published later Wednesday. While this get together came before the big April jobs miss and last week’s higher-than-expected CPI number, investors will still study the details for clues on the Fed’s monetary intentions.
Analysis: SCRUM Team