Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.01172 with take profit at 1.01309
Bearish Preference:
A Sell position is envisaged if price trades below price 1.00863 with take profit at 1.00753
Fundamentals:
10:30am EUR ECB President Lagarde Speaks
Comment:
New U.K. prime minister, Liz Truss, announced plans on Thursday to cap consumer energy bills for two years and prop up power companies, a move which could cost Britain about 150 billion pounds ($290 billion). This comes the day after the European Central Bank raised interest rates by an unprecedented 75 basis points on Thursday, and pointed towards further increases in the months ahead to tame runaway inflation.
Analysis: SCRUM Team