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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy is envisaged if price trades above 1.21136 with take profit at 1.21266.
Bearish Preference:
Sell is envisaged if price trades below 1.20963 with take profit at 1.20807.
Fundamentals:
9:00 AM EUR -German Prelim GDP q/q
10:00 AM EUR -CPI Flash Estimate y/y
EUR – Core CPI Flash Estimate y/y
EUR – Unemployment Rate
Comment: The dollar edged higher Friday, but remains near multi-week lows and was set for a fourth consecutive week of losses with the U.S. Federal Reserve retaining its dovish monetary policy even as the economy recovers.
Currently, EUR/USD is down 0.1% at 1.2113, near the two-month high of 1.2150 set the previous session, with H1 candles forming a descending Flag to the next support 1.20645 awaiting fresh fundamentals for a new push.
Analysis: SCRUM Team
