Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.39607 with take profit at 1.40056
Alternative scenario:
Sell position is envisaged if price trades below 1.38970 with take profit at 1.38573
Fundamentals:
USD Flash manufacturing PMI 2:45pm
USD Fed. Chair Powell speaks 7:30pm
Comment: Technically, this pair reached a 14 day low, forming a double bottom which led it to bounce upwards despite the risk sentiment on the COVID 19. It is envisaged that this pair will trading bullish for the earlier part of the day.
Analysis: SCRUM Team