Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.16160 with take profit at 1.16279.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.15815 with take profit at 1.15706.
Fundamentals:
3:00pm USD ISM Services PMI
4:00pm EUR ECB President Lagarde Speaks
6:15pm USD FOMC Member Quarles Speaks
Comment: European stock markets are expected to open just higher Tuesday, helped by strength in the heavyweight energy sector, but gains are likely to be restrained following the previous session’s broad selloff on Wall Street. The dollar pushed higher in early European trade Tuesday, helped by rising U.S. Treasury yields, but traded below last week’s peak with investors waiting for Friday’s key U.S. employment release for clues on the Federal Reserve’s thinking over bond-buying tapering.
Analysis: SCRUM Team
