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Daily Market Analysis 05|10|2020: EURUSD

Instrument: EURUSD Intraday: BULLISH Technical Analysis Preference:  Buy position is envisaged if price trades above 1.17351 with take profit at 1.17460. Alternative scenario: Sell position is envisaged if price trades below 1.17184 with take profit at 1.17077. Fundamentals:ISM Non-Manufacturing PMI (US) 3 PMEurogroup  Meetings (EUR) All-day Comment:  The dollar traded flat against major currencies last week as the return …

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Daily Market Analysis 22|09|2020: USU30

Instrument: US30 Intraday: BEARISH Technical Analysis Preference: Sell position is envisaged if price trades below 26882 with take profit at 26700 Alternative scenario: Buy position is envisaged if price trades above 27075 with take profit at key level 27196  Fundamentals:3:30pm  USD Fed Chair Powell Testifies Comment: US stock markets continued falling on Monday as investors worried Congress would not agree …

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Daily Market Analysis 21|09|2020: OIL

Instrument: OIL Intraday: BEARISH Technical Analysis Preference: Sell position is envisaged if price trades below 42.31 with take profit at 41.86. Alternative scenario: Buy position is envisaged if price trades above 42.69 with take profit at 43.30.  Fundamentals:No major economic data with direct bearing to this commodity. Comment: Black gold is envisaged to trade lower as the potential return …

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Daily Market Analysis 18|09|2020: GOLD

Instrument: GOLD Intraday: BULLISH Technical Analysis Preference: Buy position is envisaged if price trades above 1955.00 with take profit at 1958.60. Alternative scenario: Sell position is envisaged if price trades below 1949.00  with take profit at key level at 1945.00.  Fundamentals:No major economic data with direct bearing to this commodity. Comment: Gold gained massive strength earlier Friday morning due …

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Daily Market Analysis 15|09|2020: OIL

Instrument: OIL Intraday: BEARISH Technical Analysis Preference: Sell position is envisaged if price trades above 39.23 with take profit at key level 38.89. Alternative scenario: Buy if price trades above 39.63  with take profit at 40.04. Fundamentals:No major economic data with bearing on the commodity. Comment: Energy prices has been tanking and this can be due to the fact …

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Daily Market Analysis 02|09|2020: AUDUSD

Instrument: AUDUSD Intraday: BEARISH Technical Analysis Preference: Sell position is envisaged if price trades below 0.73356  with take profit at 0.73044   Alternative scenario: Buy position is envisaged if price trades above 0.73848 with take profit at key level 0.74080 Fundamentals:1:15pm  USD ADP Non-Farm Employment Change Comment: Separate data from the Australian Bureau of Statistics showed Australia suffered its worst economic …

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Daily Market Analysis 17|08|2020: OIL

Instrument: OIL Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 45.10 with take profit at 45.49  Alternative scenario: Sell position is envisaged if price trades below 44.89 with take profit at 44.61. Fundamentals:No major economic data with direct bearing on the commodity Comment: The commodity is envisaged to surge higher owing to the reports …

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Daily Market Analysis 17|08|2020: AUDUSD

Instrument: AUDUSD Intraday: Bullish Technical Analysis Preference:  Buy position is envisaged if price trades above 0.71966 with take profit at 0.72200 Alternative scenario: Sell position is envisaged if price trades below 0.71726 with take profit at 0.71475. Fundamentals:No major economic data with direct bearing on the pair     Comment:  The Australian economy has fared better than most other economies …

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Daily Market Analysis 13|08|2020: GOLD

Instrument: GOLD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1932 with take profit at 1940  Alternative scenario: Sell position is envisaged if price trades below 1921  with take profit at key level at 1913. Fundamentals:No major economic data with direct bearing to this commodity Comment: Gold has been trying to recover from its …

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Daily Market Analysis 12|08|2020: US30

Instrument: US30 Intraday: Bullish Technical Analysis Preference:  Buy position is envisaged if price trades above 27859 with take profit at key level 28022. Alternative scenario: Sell if price trades below 27667 with take profit at 27524. Fundamentals:1:30pm USD CPI m/mUSD    Core CPI m/m  Comment:  U.S. stock futures rose slightly in overnight trading and pointed to gains at the open …

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