Instrument: EURUSD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.14944 with take profit at key level 1.15376.
Alternative scenario:
Sell if price trades below 1.14511 with take profit at 1.13908.
Fundamentals:
No Fundamentals.
Comment: The EU passed a post pandemic stimulus plan for their corona-virus-hit economies on Tuesday after a fractious summit that lasted almost five days. According to the summit’s chairman Mr. Michel he said ” This agreement sends a concrete signal that Europe is a force for action”. Though European nations have done a better job containing the virus, the passage of this corona bill puts the icing on the cake and gives investors a clear signal that the EU is serious in putting its house in order come post COVID.
Analysis: SCRUM Team