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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.21883 with take profit at 1.22033.
Bearish Preference:
Sell position is envisaged if price trades below 1.21630 with take profit at 1.21478.
Fundamentals:
No major fundamental
Comment: The mood surrounding the pair remains cautious ahead of crucial US inflation figures and the ECB monetary policy meeting, both scheduled for Thursday. Furthermore, the economic recovery narrative in the Old Continent appears somewhat priced in for the time being, with investors shifting their attention to the potential future steps from the ECB. In the meantime, yields of the German 10-year Bund remain within the familiar range, while its American peer keeps navigating a consolidative pattern around 1.56%.
Analysis: SCRUM Team
