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Daily Market Analysis 04|05|2021: EURUSD

Instrument: EURUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.20217 with take profit at 1.20404.
Bearish Preference: 
Sell position is envisaged if price trades below 1.19812 with take profit at 1.19608.
Fundamentals:
No Major fundamentals 

Comment:  Confidence is growing throughout Europe over its recovery from the pandemic as the rate of vaccination in EU member states rises quickly. There is a similar note of optimism in the U.S., with many states continuing to relax pandemic restrictions amid the vaccine rollout. New York, one of the hardest hit of the U.S. states, recently announced that most mobility restrictions will soon be lifted, while 24-hour subway service will resume in New York City later this month.

Analysis: SCRUM Team

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