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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.07366 with take profit at 1.07525
Bearish Preference:
Sell position is envisaged if price trades below 1.06889 with take profit at 1.06711
Fundamentals:
1:30pm USD Prelim GDP q/q
Comment:
The United States dollar index (DXY) retreated broadly from its prevailing bull run in the past two weeks, dropping by up to 3.20% after hitting its two-decade high of 105. The U.S. dollar’s correction in the last two weeks preceded twelve months of relentless buying.
Analysis: SCRUM Team
