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Instrument: EURUSD
Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.13195 with take profit at key level 1.12960.
Alternative scenario:
Buy position is envisaged if price trades above 1.13389 with take profit at 1.13633.
Fundamentals:
No major economic data with direct bearing to this pair
Comment: Rising cases in corona virus and the ongoing EURO group meetings are the major reasons to sell the EURO today. The rising cases of COVID 19 have increased fears in investors coupled with the EURO pushing up to a resistance level yesterday. It is envisaged that this pair trades bearish for the most of today after being rejected from the resistance level.
Analysis: SCRUM Team
