Source: PaxForex Premium Analytics Portal, Technical Insight

According to ECB representative L. De Gindos, the latest macroeconomic data indicate the loss of the recovery momentum in the euro area:

• European states have been hit by the second wave of coronavirus;

• It does not seem that states have sought to impose the same stringent quarantine measures as in March.

EUR/USD, 30 min

Pivot: 1.1848

Analysis:

Provided that the currency pair is traded above 1.1815, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1848
• Take Profit 1: 1.1870
• Take Profit 2: 1.1890

Alternative scenario: 

In case of breakdown of the level 1.1815, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1815
• Take Profit 1: 1.1800
• Take Profit 2: 1.1780

Comment:

RSI is bullish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.1800

Analysis:

While the price is below 1.1850, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1800
• Take Profit 1: 1.1610
• Take Profit 2: 1.1500

Alternative scenario:

If the level 1.1850 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1850
• Take Profit 1: 1.2015
• Take Profit 2: 1.2150

Comment:

RSI shows the continuation of a downtrend 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 1.3130 with 1.3070 and 1.3050 targets as Take Profit. Alternative scenario - if the level 1.3130 is broken-out, buy with the TP 1.3145 and 1.3170.
GBP/USD - long positions above 1.2935 with 1.3000 and 1.3025 targets as Take Profit. Alternative scenario - if the level of 1.2935 is broken-down, sell with the targets 1.2910 and 1.2895 as Take Profit.
AUD/USD – buy above 0.7045 with 0.7115 and 0.7145 as Take Profit targets. Alternative scenario - if the level of 0.7045 is broken-down, you should consider selling with the targets 0.7020 and 0.7000 as Take Profit.