Instrument: EURUSD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.18242 with take profit at 1.18687
Alternative scenario:
Sell position is envisaged if price trades below 1.18016 with take profit at 1.17705
Fundamentals:
No major economic data with direct bearing on the pair
Comment: The Greenback recovered some lost ground against the common currency on Friday but the gains are expected to be limited as the Fed is committed to aggressive easing for a very long time leading to further weakness in the dollar.
Analysis: SCRUM Team