Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19594 with take profit at 1.19789.
Bearish Preference:
Sell position is envisaged if price trades below 1.19087 with take profit at 1.18840.
Fundamentals:
8:30 am EUR German Flash Manufacturing PMI
EUR German Flash Services PMI
9:00 am EUR Flash Manufacturing PMI
EUR Flash Services PMI
Comment: The dollar edged higher in early European trade Wednesday, stabilizing after weakness overnight following commentary from Federal Reserve Chair Jerome Powell that again indicated the central bank will take time to tighten monetary policy.
Recent data coming out on The Eurozone seem to be favourable and may give continued strength to the Euro today.
Analysis: SCRUM Team