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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.17409 with take profit at 1.17560.
Bearish Preference:
Sell position is envisaged if price trades below 1.17122 with take profit at 1.16971.
Fundamentals:
No Major Fundamental
Comment: The disappointing ZEW Survey readings from the euro area seems to be weighing on the shared currency on Tuesday. The Economic Sentiment Index for the euro area fell and missed the market expectation which could have given boost to the EUR. Additionally, the Economic Sentiment Index also came out with favoring the bears.
Analysis: SCRUM Team
