Source: PaxForex Premium Analytics Portal, Technical Insight

The Eurozone has "probably overcome" the peak of the worst economic crisis caused by the Coronavirus pandemic, European Central Bank President Christine Lagarde said on Friday, while calling on the region's authorities to prepare for a possible second wave of the disease.

EUR/USD, 30 min

Pivot: 1.1257

Analysis:

Provided that the currency pair is traded above 1.1235, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.1257
• Take Profit 1: 1.1260
• Take Profit 2: 1.1280

Alternative scenario: 

In case of breakdown of the level 1.1235, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.1235
• Take Profit 1: 1.1215
• Take Profit 2: 1.1195

Comment:

RSI is bullish and indicates a further decrease.

Key levels:

EUR/USD, D1

Pivot: 1.1220

Analysis:While the price is above 1.1100, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.1220
• Take Profit 1: 1.1375
• Take Profit 2: 1.1495

Alternative scenario:

If the level 1.1100 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.1100
• Take Profit 1: 1.1000
• Take Profit 2: 1.0870

Comment:

RSI shows the possibility of an uptrend with a medium-term period.

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

USD/CAD – sell below 1.3690 with 1.3630 and 1.3605 targets as Take Profit. Alternative scenario - if the level 1.3690 is broken-out, buy with the TP 1.3715 and 1.3740.
GBP/USD - long positions above 1.2350 with 1.2395 and 1.2415 targets as Take Profit. Alternative scenario - if the level of 1.2350 is broken-down, sell with the targets 1.2330 and 1.2310 as Take Profit.
AUD/USD – buy above 0.6860 with 0.6895 and 0.6920 as Take Profit targets. Alternative scenario - if the level of 0.6860 is broken-down, you should consider selling with the targets 0.6835 and 0.6815 as Take Profit.