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Daily Market Analysis 16|04|2020: EURUSD

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Intraday: Bullish

* Technical Analysis

* Preference: 
A Buy position is envisaged if price trades above 1.08956 with take profit at 1.09047

* Alternative scenario: 
A Sell position is envisaged if  price trades below 1.08783 with take profit at 1.08650

* Fundamentals:
USD Unemployment Claims 1:30pm

Comment: The dollar gains from yesterday quickly went sour today as data showed US retail sales declining. Technically, this pair has been trading bullish and respecting an upward trend line, it is envisaged to keep on moving bullish given the adverse effect the covid 19 has caused in the US.

Analysis: SCRUM Team

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