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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.08012 with take profit at 1.08147
Bearish Preference:
Sell position is envisaged if price trades below 1.07826 with take profit at 1.07668
Fundamentals:
No major Fundamental.
Comment:
European stock markets weakened Tuesday, with investors focusing on developments in Ukraine as Russia intensifies its assault in the east of the country. Russia’s invasion of Ukraine has roiled global markets, particularly in Europe, which relies heavily on Russian energy. EUR/USD has staged a modest rebound to the 1.08 area. Unless the pair manages to clear the 1.0830 resistance, sellers are likely to continue to dominate the pair’s action
Analysis: SCRUM Team
