Instrument: FRA.40
Technical Analysis
Bullish Preference:
buy position is envisaged if the price trades above 7466.8 with take profit at 7480.0.
Bearish Preference:
sell position is envisaged if the price trades below price 7430.2 with take profit at 7410.2.
Fundamentals:
None with High Impact
Comment:
Europe’s macro calendar is fairly light today, with May eurozone consumer confidence data and speeches from European Central Bank officials Luis de Guindos and Philip Lane the main highlights. With this in mind, activity is likely to be limited as investors await more news from Washington with negotiations to avoid a U.S. default, which would have a disastrous impact on the global economy, set to continue.
Analysis: SCRUM Team