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Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.00255 with take profit at 1.00449
Bearish Preference:
A Sell position is envisaged if price trades below price 0.99489 with take profit at 0.99243
Fundamentals:
No major fundamental
Comment:
The U.S. dollar touched a 20-year high against a basket of major currencies on Monday, as investors digest a pledge from Federal Reserve chair Jerome Powell to keep interest rates higher in a bid to bring down surging inflation. The moves come after Powell said at a closely-watched central bank symposium in Jackson Hole, Wyoming that the Fed has no plans for a dovish change in its rate policy and ill continue to raise borrowing costs.
Analysis: SCRUM Team
