Instrument: EURUSD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.12669 with take profit at 1.13098.
Alternative scenario:
Sell position is envisaged if price trades below 1.12316 with take profit at 1.12068.
Fundamentals:
No major economic data with direct bearing on the currency pair.
Comment: The common currency is envisaged to regain some lost ground in today’s session as sentiment of renewed lock-down stand in the US owing to the rising number of new cases of infection in the populous states of California, Texas and Florida. If the scheduled meeting between Angela Merkel and Emmanuel Macron to get the union to agree on the recovery fund for the zone comes out successful, it will further boost the bullish run on the pair.
Analysis: SCRUM Team