Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.21207 with take profit at 1.21382.
Bearish Preference:
Sell position is envisaged if price trades below 1.20847 with take profit at 1.20640.
Fundamentals:
No major Fundamentals
Comment: The coming week will be dominated by hopes for guidance on US monetary policy Wednesday by the rate-setting Federal Open Market Committee, just as the past week was dominated by Thursday’s US inflation data and the latest meeting of the European Central Bank.
That means little movement can be expected in EUR/USD before the Federal Reserve’s monetary-policy announcements, economic projections and press conference. Moreover, the Fed meeting may well have as little impact as the ECB and inflation numbers did, suggesting little movement in the pair throughout the week.
Analysis: SCRUM Team