Intraday: Bearish
Technical Analysis
Preference:
A sell trade is envisaged if price trades below 1.07794 with take profit at 1.07545
Alternative scenario:
A buy trade is envisaged if price trades above 1.08086 with take profit at 1.08236
Fundamentals:
1:30pm Unemployment Claims (USD)
3pm ECB President Lagarde Speaks (EUR)
Comment: Generally speaking, this pair has struggled breaking past a strong resistance level and it keeps on pushing downward given the recent court ruling as Germany decides to rule the European central bank’s bond buying program illegal while also stating the euros incompetence in COVID response. However, the dollar still lives off the little strength it has and keep putting pressure on the euro. It is envisaged that this pair would sell today
Analysis: SCRUM Team