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Morning Insights 6th December

Razvan Mihai

Analyst

Instrument: EURUSD

Intraday: Bearish

Technical Analysis

Preference:  Sell position is envisaged if price trades below 1.11020 with take profit at 1.10975. 

Alternative scenario: Buy position is envisaged if price trades above 1.11187 with take profit at 1.11232

Fundamentals:

Average Hourly Earnings m/m 2:30 (USD)

Non-Farm Employment Change 2:30 (USD)

Unemployment Rate 2:30 (USD)

Comment: With news expected from the US today and also with expected progress from the US-China trade talks. Trade should be based on the stipulated price level with close monitoring on the 2:30 news release from the US.

Instrument: DE30

Intraday: Bullish

Technical Analysis

Preference: Buy position is envisaged if price trades above 13107.6 with take profit at 13187.6

Alternative scenario: Sell position is envisaged if price trades below 13059.6 with take profit at 12980.1

Fundamentals:

Italian Retail Sales m/m 09:30 (EUR)

Comment: With expected progress from the US-China trade talks. Job data from the US later today is envisaged to impact the movement of the index today.

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