Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.06422 with take profit at 1.06531
Bearish Preference:
A Sell position is envisaged if the price trades below 1.06155 with take profit at 1.06056
Fundamentals:
None with High Impact
Comment:
The U.S. dollar edged lower in early European trade Monday, with a testimony by Federal Reserve Chair Jerome Powell to U.S. Congress prompting caution at the start of the week. Recent comments from Fed policymakers have pointed to more interest rate increases to combat inflation proving to be stickier than expected.
Analysis: SCRUM Team
