Daily Market Analysis 19.05.2022: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1.05087 with take profit at 1.05288
Bearish Preference: 
Sell position is envisaged if price trades below 1.04854 with take profit at 1.04724
1:30pm USD Philly Fed                             Manufacturing
             USD Unemployment

European stock markets traded sharply lower Thursday, continuing the global selloff with investors unnerved by fears over widespread inflation and a potential global economic slowdown. European equities have followed on from weakness in Asia earlier Thursday and after a dramatic selloff on Wall Street overnight, with the blue-chip Dow Jones Industrial Average dropping over 1,100 points, or 3.6%, its biggest one-day loss since 2020.

Analysis: SCRUM Team

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