Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.08651 with take profit at 1.08722
Bearish Preference:
A Sell position is envisaged if the price trades below 1.08491 with take profit at 1.08441
Fundamentals:
No major Fundamentals
Comment:
The upward momentum continues to be supportive as the Euro flirts with some tough resistance against the US dollar ahead of key central bank meetings this week, including the US Federal Reserve, the European Central Bank (ECB), and the Bank of England (BoE). The dollar has faced hammer blow after hammer blow in its attempts to hold ground against rivals, but the greenback is finally starting to look ‘appealing’ as U.S. equities pick up steam against their European rivals.
Analysis: SCRUM Team