Instrument: EURUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above 1.01707 with take profit at 1.01894
Bearish Preference:
A sell position is envisaged if price trades below price 1.00918 with take profit at 1.00635
Fundamentals:
No major fundamental
Comment:
The U.S. dollar weakened in early European trade Monday, while the euro jumped to a three-week high as traders reassessed the European Central Bank’s interest rate trajectory in the wake of last week’s jumbo rate hike. At 03:05 ET (07:05 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.8% lower to 107.912, falling back from the 20-year high of 110.79 seen last week.
Analysis: SCRUM Team