Source: PaxForex Premium Analytics Portal, Technical Insight

According to the R. Koch Institute (Federal Centre for Infectious Disease Control), the number of confirmed coronavirus cases in Germany rose to 226,914, with 9,243 deaths. The increase in the last 24 hours was 1,510 against +1,390 the day before. It was the highest increase since late April. Before that, the German Chancellor A. Merkel said that it was not yet possible to talk about the further easing of the restrictive measures as the number of cases per day had doubled in the last three weeks.

EUR/USD, 30 min

Pivot: 1.1938

Analysis:

Provided that the currency pair is traded above 1.1920, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1938
• Take Profit 1: 1.1965
• Take Profit 2: 1.1985

Alternative scenario: 

In case of breakout of the level 1.1920, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1920
• Take Profit 1: 1.1895
• Take Profit 2: 1.1880

Comment:

RSI is bullish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.1844

Analysis:

While the price is above 1.1640, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1844
• Take Profit 1: 1.2000
• Take Profit 2: 1.2150

Alternative scenario:

If the level 1.1640 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1640
• Take Profit 1: 1.1490
• Take Profit 2: 1.1380

Comment:

RSI shows the continuation of an uptrend in a medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

USD/CAD – sell below 1.3185 with 1.3125 and 1.3110 targets as Take Profit. Alternative scenario - if the level 1.3185 is broken-out, buy with the TP 1.3205 and 1.3230.
GBP/USD - long positions above 1.3225 with 1.3290 and 1.3320 targets as Take Profit. Alternative scenario - if the level of 1.3225 is broken-down, sell with the targets 1.3200 and 1.3180 as Take Profit.
AUD/USD – sell below 0.7260 with 0.7225 and 0.7205 as Take Profit targets. Alternative scenario - if the level of 0.7260 is broken-out you should consider buying with the targets 0.7275 and 0.7295 as Take Profit.