Instrument: EURUSD
Intraday: BULLISH
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.17351 with take profit at 1.17460.
Alternative scenario:
Sell position is envisaged if price trades below 1.17184 with take profit at 1.17077.
Fundamentals:
ISM Non-Manufacturing PMI (US) 3 PM
Eurogroup Meetings (EUR) All-day
Comment: The dollar traded flat against major currencies last week as the return of risk aversion weighed on the Greenback. The dollar was further weakened by the news that President Donald Trump contracted the novel virus and the release weaker than expected Non-Farm Payroll data from the US. The pair is envisaged to trade bullish today pending the outcome of the Eurogroup meetings and the ISM Non-Manufacturing data from the US.
Analysis: SCRUM Team
