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MARKET OUTLOOK
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🇪🇺 EUR - BULLISH
1️⃣ The annual inflation rate in the European zone was confirmed to increase to in June 2020.
2️⃣ Euro benefit from a massive coronavirus aid package agreed by EU leaders on Tuesday.
3️⃣ The already stronger euro got an additional boost from upbeat Eurozone PMI prints.
🇺🇸 USD - BEARISH
1️⃣ Concerns over rising issues of coronavirus infection in the United States.
2️⃣ The greenback was also pressured by a weaker tone surrounding the US Treasury bond yields.
3️⃣ The dollar index was trading lower for the 4th straight session on Thursday, touching 94.77, a new low since March 9th as investors came to terms that US recovery will take longer as the coronavirus pandemic in the US is far from controlled and some states have rolled back reopening plans.
4️⃣ Other countries including EU members seem to have passed the pick of infections and initiated new stimulus schemes to support further the economic recovery.
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TECHNICAL
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📊 We long this pair on RBS level + SMA 50 area in H1 chart.
📊 EURUSD in bullish zone.
MARKET OUTLOOK
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🇪🇺 EUR - BULLISH
1️⃣ The annual inflation rate in the European zone was confirmed to increase to in June 2020.
2️⃣ Euro benefit from a massive coronavirus aid package agreed by EU leaders on Tuesday.
3️⃣ The already stronger euro got an additional boost from upbeat Eurozone PMI prints.
🇺🇸 USD - BEARISH
1️⃣ Concerns over rising issues of coronavirus infection in the United States.
2️⃣ The greenback was also pressured by a weaker tone surrounding the US Treasury bond yields.
3️⃣ The dollar index was trading lower for the 4th straight session on Thursday, touching 94.77, a new low since March 9th as investors came to terms that US recovery will take longer as the coronavirus pandemic in the US is far from controlled and some states have rolled back reopening plans.
4️⃣ Other countries including EU members seem to have passed the pick of infections and initiated new stimulus schemes to support further the economic recovery.
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TECHNICAL
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📊 We long this pair on RBS level + SMA 50 area in H1 chart.
📊 EURUSD in bullish zone.
Trade closed: target reached