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Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.08551 with take profit at 1.08184
Alternative scenario:
Buy position is envisaged if price trades above 1.08777 with take profit at 1.08911
Fundamentals:
EUR Main Refinancing Rate 12:45pm
EUR Monetary Policy Statement 12:45pm
EUR ECB Press Conference 1:30pm
USD Unemployment Claims 1:30pm
Comment: The EURO gains from yesterday quickly went sour as investors keep losing confidence in the EU in their ability to control the widespread of the virus. Technically, this pair has been rejected by a trend line resistance multiple times and still got rejected at the same level yesterday, It is envisaged that this pair should trade bearish for most part of the day.
Analysis: SCRUM Team
