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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13983 with take profit at 1.14110.
Bearish Preference:
Sell position is envisaged if price trades below 1.13561 with take profit at 1.13432.
Fundamentals:
2:30pm USD Philly Fed Manufacturing Index
Comment:
European stock markets are expected to open lower Thursday, as investors fret over the fraught situation on the Ukraine border while digesting the minutes of the last Federal Reserve meeting. Global stock markets had received a boost earlier this week after Russia claimed it was withdrawing some troops from the Ukraine border, lessening the chances of an invasion. However, doubts about those claims have subsequently emerged, with a number of Western countries, including the U.S., as well as NATO warning that Russia’s military presence on Ukraine’s borders was growing, rather than shrinking.
Analysis: SCRUM Team
