Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13049 with take profit at 1.13176.
Bearish Preference:
Sell position is envisaged if price trades below 1.12814 with take profit at 1.12680.
Fundamentals:
No major fundamental
Comment: EUR/USD is flat on the session stuck in a 1.1273 and 1.1286 tight range as the markets move into holiday thin conditions. The central banks are done for the year as far as schedule meetings go, although Fedspeak could be a compounding factor for the greenback. The coronavirus threat also lingers over financial markets and remains a risk for the remaining days of this year and the starting weeks of next week. As per the coronavirus, nations in Europe are increasing restrictions. Europe elite countries are considering a forth lockdown phase as the growing numbers of the Omicron Infection is on the rise. In the US zone, amid a lack of any major economic data releases or Fed speak, the main driver in markets on Monday has been 1) concerns about the spread of Omicron and 2) worries that the Biden administration will fail to pass its economic agenda.
Analysis: SCRUM Team