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Daily Market Analysis 20|07|2020: EURUSD

Instrument: EURUSD

Intraday: Bullish

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 1.14846 with take profit at 1.15352.
Alternative scenario: 
Sell position is envisaged if price trades below 1.14260 with take profit at 1.13794.
Fundamentals:
EU Economic Summit (EUR) All-day

Comment: The pair is currently trading on an upward channel on the daily chart supporting the possibility of advancement this week. The common currency is supported by optimism on a potential agreement for a massive recovery fund for the region with reports suggesting all parties are now in support of the fund.

Analysis: SCRUM Team

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