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Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.12703 with take profit at 1.12256.
Alternative scenario:
Buy position is envisaged if price trades above 1.13223 with take profit at 1.13699.
Fundamentals:
ECB President Lagarde Speaks (EUR) 2:45 PM
Comment: The common currency benefited from the decision of the European Central Bank (last week) to increase bond purchases to help the weakest economies of the bloc. The Greenback is envisaged to regain some lost ground in today’s session owing to the release of weaker than expected data from Germany this morning.
Analysis: SCRUM Team
