Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.12844 with take profit at 1.12926.
Bearish Preference:
Sell position is envisaged if price trades below 1.12642 with take profit at 1.12546.
Fundamentals:2:30pm USD PPI m/m
USD Core PPI m/m
Comment: This is a potentially very volatile week for the EURUSD pair as both US and European policy come into key focus under the cloud of Omicron uncertainty. Both the US and Europe have seen rising case numbers. European equities weakened Monday as investors fretted about developments surrounding the Omicron variant of the Covid-19 virus, including the confirmation of the first U.K. death. Also on the agenda this week are policy-setting meetings from a number of high profile central banks, including the Bank of England and the European Central Bank in Europe, but probably more importantly the U.S. Federal Reserve.
Analysis: SCRUM Team