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Instrument: EURUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.09110 with take profit at 1.09242.
Bearish Preference:
A sell position is envisaged if the price trades below price 1.08760 with take profit at 1.08601.
Fundamentals:
1:30pm USD Core PCE Price Index m/m
Comment:
The U.S. dollar edged higher in early European trade Friday, but looks set to record a second consecutive quarterly loss ahead of key U.S. inflation data. The turmoil in the U.S. banking sector, primarily, has resulted in traders reassessing their view of future Federal Reserve moves, and now see U.S. interest rates as close to peaking which would erode the dollar’s yield advantage.
Analysis: SCRUM Team
