EUR/USD Could Soon Begin to Recover

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As the COVID-19 death toll in the US continues to reach bleak records week after week, and as the EU is seemingly about to reboot its economy, we may see some interesting opportunities in the EUR/USD.

The EUR/USD has recently tumbled to major resistance levels due to risk aversion and the broad-based demand for the US dollar as a safe-haven. We would expect a gradual recovery of the EUR, so we would buy at 1.0985 with SL at 1.0890 and TP at 1.1140.

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