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Daily Market Analysis 19|11|2020: EURUSD

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Daily Market Analysis 19|11|2020: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference: 
Buy if price trades above 1.18651 with take profit at 1.18704
Bearish Preference: 
A sell is envisaged when price trades below 1.18165 with take profit at 1.18125.
Fundamentals:
USD Philly Fed Manufacturing Index
USD Unemployment Claims
EUR ECB President Lagarde Speaks
USD CB Leading Index m/m

Comment: Immediate risks posed by the surge in infections to the U.S. and European Union economies have become too large to ignore, “Negative surprises over Brexit talks are also expected at the EU Summit today.”
The vaccine news has been the catalyst for risk-on sentiment however analysts caution additional stimulus measures are needed to buttress the US economy until a vaccine can be widely distributed.

Analysis: SCRUM Team

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