Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.07774 with take profit at 1.08126
Bearish Preference:
Sell position is envisaged if price trades below 1.07361 with take profit at 1.07107
Fundamentals:
No Major Fundamental
Comment:
Volatility is likely to be light Monday, with U.S. stock and bond markets closed for the Memorial Day holiday, but helping the risk appetite has been positive news out of China regarding the easing of COVID-19 measures. In Europe, German and Spanish consumer inflation data are due later Monday, and will be studied carefully ahead of Tuesday’s release of the latest Eurozone inflation flash estimate.
Analysis: SCRUM Team
