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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.18543 with take profit at 1.18724.
Bearish Preference:
Sell position is envisaged if price trades below 1.18302 with take profit at 1.18151.
Fundamentals:
3:00 pm USD ISM Services PMI
Comment: U.S. economy is seen opening marginally lower Tuesday. European stock markets slipped lower Tuesday as investors digested a rise in oil prices, while the U.K. food retail sector remained in the spotlight. This lack of new output threatened to tighten the demand/supply balance as economies reopen around the globe, pushing prices higher and adding to near-term inflationary pressures that threaten to undermine the global economic recovery.
Analysis: SCRUM Team
