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Daily Market Analysis 27|05|2020: EURUSD

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Daily Market Analysis 27|05|2020: EURUSD

Intraday: Bearish

Technical Analysis

Preference: 
Sell position is envisaged if price trades below 1.09445 with take profit at 1.09251.
Alternative scenario: 
Buy position is envisaged if price trades above 1.09687 with take profit at 1.09902.
Fundamentals:
8:30am    EUR    ECB President Lagarde Speaks 

Comment: The decline could be associated with the worries about the US response to China’s proposed security law for Hong Kong and the resulting haven demand for the greenback. Additionally, price seems to have hit a verified resistance on the daily timeframe.

Analysis: SCRUM Team

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