Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.05410 with take profit at 1.05484
Bearish Preference:
Sell position is envisaged if price trades below price 1.05226 with take profit at 1.05121
Fundamentals:
2:00pm EUR ECB President Lagarde Speaks
2:30pm USD Fed Chair Powell Speaks
Comment:
The U.S. dollar edged higher in early European trade Wednesday, as traders sought refuge in this safe haven given the ongoing concerns of a global economic slowdown. Adding to the buck’s strength was euro weakness after European Central Bank chief Christine Lagarde offered no fresh insight on the path for European interest rates or the makeup of the new anti-fragmentation tool at the central bank’s annual forum.
Analysis: SCRUM Team
