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Instrument: EURUSD
Bullish Preference:
A buy position is envisaged if the price trades above 1.09598 with take profit at 1.09805
Bearish Preference:
A sell position is envisaged if the price trades below 1.09237 with a take profit at 1.09030
Fundamentals:
No Major fundamental
Comment:
The German economy has been hit by a toxic mix of weak trading with key partner China and a slump in its large manufacturing and construction sectors, threatening to push the eurozone economy into a recession. This could cause the European Central Bank to pause its year-long rate-hiking campaign in September, even with inflation still running above the central bank’s medium-term target.
Analysis: SCRUM Team
