Trading signals

EUR/USD

EURUSD

The second coronavirus wave hit EU. As a result, mounting fears regarding the economy of the region weighed on the euro. The addition pressure came from the ECB's governor who said that the economic recovery in the EU was very uncertain. 

 

The main scenario is a growth to the 1.1800 hurdle.

The alternative scenario assumes a decline towards 1.1700.

 

A close above the 1.1770 hurdle is likely to accelerate the recovery move towards 1.1800.

The 1.1750 handle now seems to protect the immediate downside. If it is broken, the euro may ease to 1.1700.

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