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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.09917 with take profit at 1.10041.
Bearish Preference:
Sell position is envisaged if price trades below 1.09358 with take profit at 1.09051.
Fundamentals:
2:15pm EUR ECB President Lagarde Speaks
Comment:
European stock markets are expected to open marginally lower Tuesday, with investors monitoring the Ukraine war as well as U.S. monetary policy developments. Elsewhere, investors will also digest Monday’s hawkish comments from Federal Reserve Chairman Jerome Powell in the wake of last week’s interest rate hike of 25 basis points, the likely start of a sustained tightening cycle. European Central Bank President Christine Lagarde said on Monday that the world’s two top central banks will move out of sync in the foreseeable future, as the war in Ukraine will have very different effects on their economies.
Analysis: SCRUM Team
