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Instrument: EURUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1.21532 with take profit at price 1.21621.
Bearish Preference:
A sell position is envisaged if price trades below price 1.21228 with take profit at price 21121.
Fundamentals:
None with high impact.
Comment: The recent rally in EUR/USD appears to have stalled ahead of the February high (1.2243) as it gives back the advance following the US Non-Farm Payrolls (NFP) report, and data prints coming out of the world’s largest economy may continue to sway the exchange rate as it slips to a fresh weekly low (1.2072) following the update to the Consumer Price Index (CPI).
Analysis: SCRUM Team
