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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.21538 with take profit at 1.21687.
Bearish Preference:
Sell position is envisaged if price trades below 1.21279 with take profit at 1.21148.
Fundamentals:
1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m
Comment: FX markets have been quiet as measures of volatility have fallen across the board, but much of the lacking price action may be explained by the calendar: the Bank of Canada’s meeting of Wednesday brought in a bearish trading the EURJPY market and the European Central Bank’s meeting tomorrow have investors keeping their powder dry rather than making fresh bets.
Analysis: SCRUM Team
