Instrument: EURUSD
Intraday: BEARISH
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.17243 with take profit at 1.16882.
Alternative scenario:
Buy position is envisaged if price trades above 1.17516 with take profit at key level 1.17790.
Fundamentals:
8:20am EUR ECB President Lagarde Speaks
Comment: The dollar was up on Wednesday morning across board in Asia, with investors digesting economic data from China. There is optimism as regards the introduction of a stimulus package even though there are some discussions around it currently.
Analysis: SCRUM Team