Daily Market Analysis 16.02.2022: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.13857 with take profit at 1.14055.
Bearish Preference: 
Sell position is envisaged if price trades below 1.13536 with take profit at 1.13327.
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m 3:15pm
USD Industrial Production m/m
8:00pm USD FOMC Meeting Minutes

EUR/USD takes offers to refresh daily low near 1.1345, down 0.11% intraday, as the pair traders consolidate the heaviest daily jump in a fortnight during Wednesday’s Asian session. The major currency pair sellers seem to respect the market’s cautious optimism while tracking the latest developments surrounding Russia, as well as mixed concerns over the US Federal Reserve’s (Fed) next move.

Analysis: SCRUM Team

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