Intraday: Bearish
Technical Analysis
Preference:
Sell if price trades below 1.07300 with take profit at 1.07240
Alternative scenario:
Buy position is envisaged if price trades above 1.07340 with take profit at 1.07400
Fundamentals:
EUR 9:00am German for Business Climate
USD 1:30pm Core Durable Goods Orders m/m
Durable Goods Orders m/m
Comment:
With recession coming for all countries and with only the Us having sent relief funds to qualified citizens and the EU still stagnant on the disbursement of funds for its citizenry.
We have seen EUR drop from 1.08880 since the start of the week. Prices are expected to close bearish today.
Analysis: SCRUM Team