Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13467 with take profit at 1.13569.
Bearish Preference:
Sell position is envisaged if price trades below 1.13301 with take profit at 1.13211 .
Fundamentals:
4:00pm USD Fed Chair Powell Testifies
Comment: The U.S. dollar slipped lower in early European trade Tuesday, but remained in a tight trading range as traders look to Federal Reserve Chair Jerome Powell’s appearance in Congress later session for clues over when the central bank will start raising interest rates. A number of European governments are now relaxing Covid-19 rules to keep hospitals, schools and emergency services going, an acknowledgment that the Omicron variant is less dangerous than previous dominant strains.
Analysis: SCRUM Team
