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Instrument: FRA. 40
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 7181.6 with take profit at 7209.2.
Bearish Preference:
A sell position is envisaged if the price trades below 7115.6 with take profit at 7084.6.
Fundamentals:
None with High Impact
Comment:
European stock markets traded sharply lower Wednesday after disappointing Chinese manufacturing data weighed on sentiment, with key regional inflation data also in focus. This economic disappointment overshadowed the news that the U.S. debt ceiling bill cleared an important procedural hurdle en route to a vote in the House of Representatives later Wednesday.
Analysis: SCRUM Team
