Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.10485 with take profit at 1.10586.
Bearish Preference:
Sell position is envisaged if price trades below 1.10214 with take profit at 1.10082.
Fundamentals:
5:PM US ZONE: Fed Chair Powell Speaks
Comment:
The dollar edged lower versus major currencies on Monday, with investors awaiting remarks from U.S. Federal Reserve chair Jerome Powell later in the day and from other central bank policymakers this week for monetary policy clues. Currency markets have been roiled over the past month by the financial fallout from Russia’s invasion of Ukraine, as the economic costs come into sharper focus, including higher inflation fuelled by rising energy costs.
Analysis: SCRUM Team