Good morning team,
Market sentiment is turning negative due to corona-virus fears. The market is anticipating a second wave in the US which potentially means USD safe haven plays.
The DXY has had a strong bounce on a key support zone meaning we could see further upside from its current level.
Please check telegram for the full fundamental update.
EURUSD Daily Charts
There is a rejection from key trend line resistance and resistance zone.
EURUSD – 4 Hour Charts
We have seen a 5 wave structure higher followed by a break of an inclining trend line.
Trade setup: SELL Market execution, current price 1.1291, stop loss 1.1392 and take profit target 1.1094.
Stop loss: 101 pips
Take profit: 197 pips