Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19552 with take profit at 1.19800.
Bearish Preference:
Sell position is envisaged if price trades below 1.18641 with take profit at 1.18401
Fundamentals:
None with high impact on the pair.
Comment: The dollar edged higher in early European trade Friday, continuing to benefit from Wednesday’s surprise move by the Federal Reserve in bringing forward its timetable for raising interest rates.
The dollar is still reaping the rewards of the U.S. Federal Reserve, the country’s central bank, taking a more hawkish stance than expected and planning for two interest rate increases of 25 basis points in 2023, a year earlier than expected.
Analysis: SCRUM Team