Analyst
Bearish Preference: Sell position is envisaged if price trades below 1.17045 with take profit at 1.16800
Bullish Preference: Buy position is envisaged if price trades above 1.17240 with take profit at 1.17425.
Core Retail Sales m/m (USD) 1:30pm
Retail Sales m/m (USD) 1:30pm
Comment: The euro edged lower in the early hours of today because of an increasing number of COVID-19 cases, and the negative BREXIT sentiment, however, there still exists uncertainty in the US economy and the low-interest rate which reduces its attractiveness hence, investors are buying EUR/USD at this dip at the current support zone.
Bearish Preference: Sell position is envisaged if price trades below 42.49 with take profit at 41.66.
Bullish Preference: Buy position is envisaged if price trades above 43.10 with take profit at 43.56.
No major economic data with direct bearing on this commodity
Comment: There have been intense worries over weakening fuel demand in Europe due to a resurgence in COVID-19 cases, and the US. is not faring better. In Europe, some countries were reviving curfews and lockdowns to fight a surge in new coronavirus cases, with major cities imposing tougher COVID-19 restrictions on Friday.
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