EURUSD - Bullish Bias

25 May 2021

EUR - BULLISH
1️⃣ The rapid pace of COVID-19 vaccination and the ongoing reopening efforts continued to support solid economic recovery hopes.
2️⃣ Upbeat PMI data released on Friday suggested the Eurozone expanded all at record rates in May, following the relaxation of coronavirus-induced restrictions.
3️⃣ German business morale in May hit its strongest level since May 2019, beating market forecasts.

USD - BEARISH
1️⃣ Inflation concerns eased further after Federal Reserve officials Lael Brainard, Raphael Bostic and James Bullard noted that they wouldn’t be surprised to see bottlenecks and supply shortages push prices up in coming months as the pandemic recedes, but that much of those gains should be temporary.

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Technical
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We are buying the EURUSD at RBS + above SMA50 on the M15 chart. This is short-term trading.

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Risk to this trade
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Any change in sentiment could turn the pair's direction.

25 May 2021

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