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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 13|08|2020: GBPUSD

Instrument: GBPUSD Intraday: Bullish Technical Analysis Preference:  Buy position is envisaged if price trades above 1.30737 with take profit at 1.31000 Alternative scenario: Sell position is envisaged if price trades below 1.30300  with take profit at key level 1.29475 Fundamentals:No major economic data with direct bearing to this pair  Comment:  This pair has been ranging for quite some time …

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Daily Market Analysis 12|08|2020: GOLD

Instrument: GOLD Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1902.51 with take profit at key level 1859.51  Alternative scenario: Buy if price trades above 1949.19 with take profit at 1986.04 Fundamentals:1:30pm USD CPI m/mUSD    Core CPI m/m Comment: Gold fell sharply on Wednesday morning in Asia, continuing losses from the previous sessions in …

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Daily Market Analysis 11|08|2020: OIL

Instrument: OIL Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 45.34 with take profit at key level 45.04  Alternative scenario:  Buy if price trades above 45.73  with take profit at 46.08 Fundamentals:No Fundamentals. Comment: Technically Brent has been hovering between 46.15 and 44.35 prize zones, right now investors would be waiting for crude oil …

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Daily Market Analysis 11|08|2020: USDCAD

Instrument: USDCAD Intraday: Bearish Technical Analysis Preference:  Sell position is envisaged if price trades below 1.32983 with take profit at key level 1.32505. Alternative scenario: Buy if price trades above 1.33249 with take profit at 1.33476. Fundamentals:No Fundamentals.  Comment:  The loonie has been growing in strength against it counter part the dollar, we could attribute the dollar weakness to …

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Daily Market Analysis 10|08|2020: USDCAD

Instrument: USDCAD Intraday: Bullish Technical Analysis Preference:  Buy position is envisaged if price trades above 1.34018 with take profit at  1.34411 Alternative scenario: Sell position is envisaged if price trades below 1.33592 with take profit at 1.33282 Fundamentals:No major economic data with bearing on the pair.  Comment:  The pair is expected to trade higher today owing to the release …

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Daily Market Analysis 05|08|2020: AUDUSD

Instrument: AUDUSD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 0.71918 with take profit at key level 0.72192. Alternative scenario: Sell if price trades below 0.71462 with take profit at 0.71089. Fundamentals:3:00pm USD ISM Non-Manufacturing PMI Comment: The dollar was down in Asia on Wednesday morning, with hopes of a U.S. economic recovery from …

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Daily Market Analysis 03|08|2020: OIL

Instrument: OIL Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 42.79 with take profit at 42.33. Alternative scenario: Buy position is envisaged if price trades above 43.40 with take profit at 43.92. Fundamentals:No major economic data with direct bearing on the commodity Comment: The commodity is envisaged to trade lower owing to the rising …

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Daily Market Analysis 03|08|2020: EURUSD

Instrument: EURUSD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1.17834 with take profit at 1.18932. Alternative scenario: Sell position is envisaged if price trades below 1.17032 with take profit at 1.16440. Fundamentals:ISM Manufacturing PMI (USD) 3 PM Comment: The greenback recovered some lost ground earlier today as a technical retracement on the pair. …

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