Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.20608 with take profit at 1.20708.
Bearish Preference:
Sell position is envisaged if price trades below 1.20426 with take profit at 1.20328.
Fundamentals:
None with high impact
Comment: The Euro started the day on a positive note, after German retail sales for March turned out considerably higher than expected, up 7.7% on the month as the country briefly loosened its lockdown restrictions.
However, there is likely to be little momentum for the euro from the data, given that Europe’s largest economy already tightened its Covid-19 rules again in April.
Analysis: SCRUM Team