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Daily Market Analysis 18|05|2020: EURUSD

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Daily Analysis / Online Education

Daily Market Analysis 18|05|2020: EURUSD

Intraday: Bearish

Technical Analysis

Preference: 
Sell position is envisaged if price trades below 1.08113 with take profit at 1.07834

Alternative scenario: 
Buy position is envisaged if price trades above 1.08286 with take profit at 1.08451

Fundamentals:
No major economic data expected today

Comment: The hawkish statement of the Chairman of the Federal Reserve earlier today is envisaged to lend strength to the Greenback today. Mr Powell said that the economy will rebound soonest and unemployment will get back down as people will go back to work. 

Analysis: SCRUM Team

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