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Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.12829 with take profit at 1.12993.
Bearish Preference:
Sell position is envisaged if price trades below 1.12634 with take profit at 1.12462 .
Fundamentals:
4:00pm USD CB Consumer Confidence
Comment: The dollar pushed higher in early dealings on Tuesday, as the violent snap back in U.S. stocks in the second half of Monday’s trading failed to convince global markets that the recent volatility has run its course. On Monday, the Deutsche Bundesbank had warned that the economy had likely contracted in the fourth quarter, as the industry struggled with sustained chip shortages and, from December, a fresh wave of Covid-19.
Analysis: SCRUM Team
