Daily Market Analysis 25.05.2023: EURCAD

Instrument: EURCAD

Technical Analysis

Bullish Preference: 
A buy position is envisaged if the price trades above 1.45939 with take profit at 1.46091.
Bearish Preference: 
A sell position is envisaged if the price trades below 1.45643 with take profit at 1.45511.
None with High Impact

Data released earlier Thursday showed that German first-quarter output shrank 0.3% from the previous three months following a 0.5% drop between October and December. This meant that Europe’s main growth driver suffered from a winter recession.

Analysis: SCRUM Team

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