Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.14140 with take profit at 1.14377.
Bearish Preference:
Sell position is envisaged if price trades below 1.13848 with take profit at 1.13638.
Fundamentals:
No major Fundamental.
Comment:
European stock markets are expected to open marginally higher Tuesday, trading in a muted fashion as global investors await the release of key U.S. inflation data later in the week. The major focus of investors these days is the speed that central banks look to withdraw the emergency support put in place two years ago after the Covid-19 pandemic sent the global economy into a deep but short recession. The Bank of England increased interest rates last week, delivering back-to-back hikes for the first time since 2004, and the European Central Bank hinted at action later in the year.
Analysis: SCRUM Team