Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.96600 with take profit at 0.96841
Bearish Preference:
Sell position is envisaged if price trades below 0.96119 with take profit at 0.95873
Fundamentals:
2:00pm EUR ECB President Lagarde Speaks
Comment:
The dollar index, which tracks the greenback against a basket of six other currencies, climbed to a fresh 20-year high on Monday, making all commodities, including oil, which are denominated in dollars more expensive for foreign buyers. Dismal business activity data from the Eurozone and the U.K. last week heightened fears of a regional recession, and investors will look to the release of the German Ifo business climate index for September later in the session for further clues of corporate sentiment in the Eurozone’s largest economy.
Analysis: SCRUM Team