Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.14012 with take profit at 1.14177.
Bearish Preference:
Sell position is envisaged if price trades below 1.13784 with take profit at 1.13625.
Fundamentals:
2:30pm USD Empire State Manufacturing Index
Comment: The dollar rose in early dealings in Europe on Tuesday, pulled higher as concerns over inflation pushed 10-year U.S. government bond yields to their highest in over two years. The yield on the 10-year U.S. benchmark rose as high as 1.86% in the overnight session, a level it last saw when practically no-one outside China had heard of Covid-19. The euro was also little changed against the dollar at $1.1402, ahead of the release of the German ZEW economic sentiment index for January. In emerging markets, the ruble weakened again amid growing fears that President Vladimir Putin will send his tanks across the Ukrainian border again.
Analysis: SCRUM Team