Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13421 with take profit at 1.13694.
Bearish Preference:
Sell position is envisaged if price trades below 1.13142 with take profit at 1.12855.
Fundamentals:
3:45pm USD Chicago PMI
4:00pm USD Fed Chair Powell Testifies
USD CB Consumer Confidence
USD Treasury Sec Yellen Speaks
7:00pm USD FOMC Member Clarida Speaks
Comment: European stock markets are expected to open sharply lower Tuesday amid fresh concerns about the effectiveness of the current vaccines in combating the newly discovered omicron Covid variant. The omicron variant has now spread to more than a dozen countries, prompting the introduction of new travel curbs. The World Health Organization said on Monday that the modification posed a very high risk of infection surges, although the UN body added it is still unclear how severe the new variant is.
Analysis: SCRUM Team