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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13460 with take profit at 1.13585.
Bearish Preference:
Sell position is envisaged if price trades below 1.13165 with take profit at 1.13035.
Fundamentals:
2:15pm USD ADP Non-Farm Employment Change4:00pm USD Fed Chair Powell Testifies
USD ISM Manufacturing PMI
Comment: European stock markets are expected to open higher Wednesday, rebounding after Federal Reserve chairman Jerome Powell guaranteed a rough end to November with his hawkish turn in Congress on Tuesday. Powell signalled on Tuesday the U.S. central bank may speed up the pace of its bond-buying taper at its meeting later this month, acknowledging that inflation is proving to be more sustained and troublesome than he had expected.
Analysis: SCRUM Team
