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Instrument: EURUSD
Technical Analysis
Bearish Preference:
Sell if price trades below 1.20210 with take Profit at 1.19706
Bullish Preference:
Buy if price trades above 1.20569 with take Profit at 1.20789
Fundamentals:
No major fundamental
Comment: Strong U.S. retail sales, new signs the Federal Reserve will maintain its accommodative stance, and an ongoing push for further U.S. stimulus have bolstered economic optimism, but some analysts remain cautious because new strains of the coronavirus continue to emerge.
With an even larger stimulus package likely to be passed by Congress before the end of March, the U.S. economic recovery could gain more momentum in 2021.
Analysis: SCRUM Team
