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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22849 with take profit at 1.23051.
Bearish Preference:
Sell position is envisaged if price trades below 1.22357 with take profit at 1.22149.
Fundamentals:
9:00am EUR German ifo Business Climate
3:00pm USD CB Consumer Confidence
Comment: The dollar weakened in early European trade Tuesday, with Federal Reserve officials keen to stick to the recent mantra that inflationary pressures were temporary in nature and the central bank’s ultra-easy monetary policies were here to stay.
European Market is set to hit record highs as a billion-dollar takeover deal combining two of Germany’s biggest property developers and soothing comments about inflation drove an upbeat mood among investors.
Analysis: SCRUM Team
