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Instrument: EURUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.05542 with take profit at 1.05756
Bearish Preference:
A Sell position is envisaged if the price trades below 1.05245 with take profit at 1.04946
Fundamentals:
4pm USD Fed Chair Powell Testifies
USD JOLTS Job Openings
7:01pm USD 10-y Bond Auction
Comment:
European stock markets are expected to open lower Wednesday, taking their lead from the sharp losses on Wall Street overnight after Fed head Jerome Powell warned interest rates could go higher than expected. The latest economic data have come in stronger than expected, which suggests that the ultimate level of interest rates is likely to be higher than previously anticipated,” Federal Reserve Chair Jerome Powell said in prepared remarks to the Senate Banking Committee, at the start of his two-day testimony to Congress.
Analysis: SCRUM Team
