Source: PaxForex Premium Analytics Portal, Technical Insight

German Central Bank governor and ECB Governing Council member J. Weidmann said in an interview for a German newspaper Weidmann:

• We expect Germany's debt burden during the pandemic to be lower than it was during the 2008 financial crisis;

• Does not think that the second wave of the coronavirus will cause more damage than the first wave;

• Emergency fiscal support measures taken by the German government should be withdrawn immediately after the end of the coronavirus crisis;

• Governments should not expect central banks to keep interest rates low forever;

• Price pressures in the eurozone may remain weak in the coming years;

• It may take time to change course in rate polling;

• Governments must be prepared to raise rates;

• The outlook for the economy will depend on how the coronavirus situation develops after lockdowns are lifted.

EUR/USD, 30 min

Pivot: 1.2293

Analysis:

Provided that the currency pair is traded above 1.2275, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.2293
• Take Profit 1: 1.2320
• Take Profit 2: 1.2340

Alternative scenario: 

In case of breakdown of the level 1.2275, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.2275
• Take Profit 1: 1.2255
• Take Profit 2: 1.2235

Comment:

RSI is bearish and indicates an uptrend within a day.

Key levels:

EUR/USD, D1

Pivot: 1.2295

Analysis:

While the price is above 1.2050, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2295
• Take Profit 1: 1.2410
• Take Profit 2: 1.2550

Alternative scenario:

If the level 1.2050 is broken-down, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2050
• Take Profit 1: 1.1925
• Take Profit 2: 1.1745

Comment:

RSI shows the development 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 1.2775 with 1.2730 and 1.2700 targets as Take Profit. Alternative scenario - if the level 1.2775 is broken-out, buy with the TP 1.2805 and 1.2830.
GBP/USD - long positions above 1.3600 with 1.3650 and 1.3670 targets as Take Profit. Alternative scenario - if the level of 1.3600 is broken-down, sell with the targets 1.3570 and 1.3530 as Take Profit.
AUD/USD – buy above 0.7670 with 0.7725 and 0.7740 as Take Profit targets. Alternative scenario - if the level of 0.7670 is broken-down, you should consider selling with the targets 0.7645 and 0.7625 as Take Profit.