Daily Market Analysis 14|09|2020: EURUSD

Daily Analysis / Online Education

Daily Market Analysis 14|09|2020: EURUSD

Instrument: EURUSD

Intraday: BULLISH

Technical Analysis

Buy position is envisaged if price trades above 1.18598 with take profit at 1.18898
Alternative scenario: 
Sell position is envisaged if price trades below 1.18402 with take profit at 1.18153
No major economic data with bearing on the pair.

Comment:  The Fed position has been bearish for the dollar over a couple of months ahead of this week’s Federal Reserve meeting. Positive reports on  trials of  COVID19 Virus vaccines from AstraZeneca and Pfizer is expected to sharpen demand for riskier assets fueling optimism of the world returning to “normal’ as soon as possible.

Analysis: SCRUM Team

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