Skip to content 
Instrument: EURUSD
Intraday: BEARISH
Technical Analysis
Preference:
SELL position is envisaged if price trades below 1.16108 with take profit at 1.15960
Alternative scenario:
BUY position is envisaged if price trades above 1.16404 with take profit at 1.16689
Fundamentals:
ECB President Lagarde Speaks (EUR) 2:45 PM
Comment: The Greenback continued its recovery against major currencies last week due to the rise in the US real yield (U.S. inflation-linked bonds) and the release of impressive economic data from the US leading to the biggest single-week percentage decline on the pair since March. ECB Governing Council member and Bank of Italy Governor Ignazio Visco had on Sunday showed concern about the recent strengthening of the Euro believing it could jeopardize price stability. If Lagarde shares the sentiment of Visco in her speech later today we might see the pair continuing the bearish move.
Analysis: SCRUM Team
