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Daily Market Analysis 05.04.2022: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.09966 with take profit at 1.10144
Bearish Preference: 
Sell position is envisaged if price trades below  1.09703 with take profit at 1.09544
Fundamentals:
3:00pm        USD        ISM Services PMI
3:05pm        USD        FOMC Member Brainard Speaks

Comment: 
The U.S. dollar traded in a tight range Tuesday, while the euro edged lower on talk of additional sanctions on Russia. The Instrument  was largely unchanged at 1.0972, hovering above a one-week low, on talk of fresh sanctions on Moscow following alleged atrocities on civilians by Russian forces in the Ukrainian town of Bucha.

Analysis: SCRUM Team

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