Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.16127 with take profit at 1.16198.
Bearish Preference:
Sell position is envisaged if price trades below 1.15983 with take profit at 1.15909.
Fundamentals:
No major fundamental
Comment: The safe haven US Dollar has recently lost momentum against major currency pairs as fundamentals continue to weigh on risk appetite. After breaking above the key psychological level of 90.00 in June, the US Dollar Currency Index (DXY) has proven to be on a strong upward trajectory which continues to hold, at least for now. EURUSD hit triple top and triple bottom, traders are looking for a clear path to take position.
Analysis: SCRUM Team