Morning Insights 9th December

Razvan Mihai

Analyst

EURUSD

Intraday: BullishTechnical

AnalysisPreference: Buy position is envisaged if price trades above 1.10679 with take profit at 1.10800Alternative scenario: Sell position is envisaged if price trades below 1.10601 with take profit at 1.10541

Fundamentals:No major economic data with direct bearing on the pair.

Comments: The dollar surged against major basket of major currencies on Friday after data showed strength in the US job market. The strength may be short-lived due to the escalation of the US-China trade tension hence a bullish trend is envisaged.

 GOLD

Intraday: BullishTechnical

AnalysisPreference: Buy position is envisaged if price trades above 1462.42 with take profit at 1467.91Alternative scenario: Sell position is envisaged if price trades below 1458.00 with take profit at 1448.96.

Fundamentals:No major economic data with direct bearing on the commodity

Comments:

The commodity is envisaged to benefit from the current imbroglio in the US-China trade relationship as a safe haven commodity.

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?