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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.18231 with take profit at 1.18356.
Bearish Preference:
Sell position is envisaged if price trades below 1.17953 with take profit at 1.17831.
Fundamentals:
7:00pm USD FOMC Statement
Comment: The dollar edged higher in early European trading Wednesday, but remained below recent highs amid caution ahead of the U.S. Federal Reserve’s latest policy decision. The euro wasn’t helped by consumer confidence releases in Germany and France that showed confidence failing to improve, while the main focus Wednesday will be on the conclusion of the two-day meeting of the U.S. Federal Reserve.
Analysis: SCRUM Team
