Instrument: EURUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.17979 with take profit at 1.18072.
Bearish Preference:
Sell position is envisaged if price trades below 1.17700 with take profit at 1.17580.
Fundamentals:
No major fundamental.
Comment: The dollar edged higher in early European trading Monday, maintaining its recent strong tone as rising Covid-19 cases threaten to derail the global economic recovery, prompting a flight to safety. The greenback has benefited of late from investors becoming more risk-averse as rising numbers of Covid-19 cases threatened to halt the tepid global economic recovery.
Analysis: SCRUM Team
