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Daily Market Analysis 08|07|2020: EURUSD

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Daily Analysis / Online Education

Daily Market Analysis 08|07|2020: EURUSD

Instrument: EURUSD

Intraday: Bullish

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 1.13061 with take profit at 1.13404.
Alternative scenario: 
Sell position is envisaged if price trades below 1.12562 with take profit at 1.12366.
Fundamentals:
No major economic data with direct bearing on the currency pair.

Comment: The resurgence in the number of infections worldwide is dampening market optimism as some of the introduced stimulus program are close to expiration. The pair is currently trading narrowly and a breakout is envisaged before the end of the session today.

Analysis: SCRUM Team

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