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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.01635 with take profit at 1.01839 .
Bearish Preference:
Sell position is envisaged if price trades below 1.00761 with take profit at 1.00520 .
Fundamentals:
None with high impact
Comment:
The U.S. dollar edged lower in early European trade Monday, nudging down from multi-year highs, while the euro climbed away from parity ahead of the week’s European Central Bank meeting. However, pressure could easily return on this pair given the ongoing political uncertainty in Italy after Prime Minister Mario Draghi tendered his resignation last week after one of the parties in his broad coalition, the 5-Star Movement, refused to back the government in a parliamentary confidence vote.
Analysis: SCRUM Team
