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Instrument: EURUSD
Intraday: Bearish
Technical Analysis
Preference:
SELL position is envisaged if price trades below 1.12408 with take profit at 1.12129.
Alternative scenario:
BUY position is envisaged if price trades above 1.12641 with take profit at 1.13100.
Fundamentals:
USD Core PCE Price Index m/m
Personal Spending m/m
Comment: Economic data pointed to an economic recovery in the U.S. Thursday, with another small drop in jobless claims and a substantial rise in durable goods orders. Friday offers up spending data as well as Michigan sentiment numbers which is going to be huge for the dollar as sentiments of Covid effect on the Euro is still felt.
Analysis: SCRUM Team
