Instrument: EURUSD
Technical Analysis
Bearish Preference:
Sell is envisage if price trades below 1.20740 with take profit at 1.20332
Bullish Preference:
Buy is envisaged if price trades above 1.21174 with take profit at 1.21393
Fundamentals:
EUR German Flash Manufacturing PMI
EUR German Flash Services PMI
Comment: The recent 70-pip upward move in EUR/USD has been due to the fact that the European countries are finally receiving more doses of various jabs, but reports suggest that some are hesitating to take the AstraZeneca shots. Britain and the EU had an ugly row over supplies of this immunization solution and that has eroded confidence. However, the outcome of various high impacting reports today would determine if the Euro would further its movement up or be pulled down.
Analysis: SCRUM Team