Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.06977 with take profit at 1.07194
Bearish Preference:
Sell position is envisaged if price trades below 1.06440 with take profit at 1.06327
Fundamentals:
None with high impact
Comment:
The U.S. dollar seems steady on Monday as investors digested a clutch of economic data released last week that stoked hopes of the Federal Reserve slowing the pace of its interest rate hikes. The uncertainty over the global economic outlook, along with mounting worries about a recession in the United States, saw the two-year Treasury yield, which typically moves in step with interest rate expectations, slip overnight.
Analysis: SCRUM Team
