Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13056 with take profit at 1.13140.
Bearish Preference:
Sell position is envisaged if price trades below 1.12944 with take profit at 1.12869.
Fundamentals:
9:00pm EUR Spanish Unemployment Change
4:00pm USD ISM Manufacturing PMI
USD JOLTS Job Openings
Comment: The U.S. dollar pushed higher in early European trade Tuesday, making particular gains against the yen on rising Treasury yields as expectations rise that the Federal Reserve will lift interest rates early in 2022 despite rising Covid-19 cases. The number in coronavirus cases caused by the Omicron variant has continued to rise, with the U.S. recording a global daily record of over one million cases. While this is affecting global travel and some public services, investors remain optimistic that the economic impact will be limited, allowing the recovery to continue and the Federal Reserve to raise interest rates a number of times in 2022.
Analysis: SCRUM Team