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Daily Market Analysis 08.11.2023: EURUSD

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Instrument: EURUSD

Bullish Preference: 
A buy position is envisaged if the price trades above 1.07047 with take profit at 1.07217
Bearish Preference: 
A sell position is envisaged if the price trades below 1.06445 with take profit at 1.06143
Fundamentals:
3:15pm USD Fed Chair Powell Speaks

Comment: 
The Euro (EUR) remains on the defensive against the US Dollar (USD), forcing EUR/USD to retreat further and print new weekly lows in the 1.0660 zone, where some initial contention emerged so far on Wednesday.

Analysis: SCRUM Team

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