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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.18979 with take profit at 1.19093.
Bearish Preference:
Sell position is envisaged if price trades below 1.18851 with take profit at 1.18743.
Fundamentals:
1:30pm USD CPI m/m
USD Core CPI m/m
Comment: The US Indices have thought pretty well as against the weakening, helped by expectations of a strong U.S. economic recovery. But concerns are increasing that the combination of unprecedented levels of fiscal stimulus and pent up demand will lead to rampant inflation, forcing the Federal Reserve to tighten its monetary policies more quickly than earlier anticipated.
European stock markets traded in a muted fashion Tuesday ahead of key U.S. inflation numbers, with the U.K. underperforming after the release of patchy growth data.
Analysis: SCRUM Team
