Analyst
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1555.66 with take profit at 1557.95
Alternative scenario: Sell position is envisaged if price trades below 1554.63 with take profit at 1551.94
No major economic data with direct bearing on the commodity.
Comment: The commodity has been a major beneficiary of the scepticism about the U.S.-China trade deal despite the signing of the phase 1 deal as doubt linger whether the U.S. and China can maintain a cordial relationship.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.11327 with take profit at 1.11252
Alternative scenario: Buy position is envisaged if price trades above 1.11416 with take profit at 1.11534.
No major economic data with direct bearing on the pair
Comment: The pair is currently capped by the resistance at 1.1140 despite the perceived weakness in the greenback.
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