Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1469.05 with take profit at 1450.45
Alternative scenario: Buy position is envisaged if price trades above 1500.29 with take profit at 1510.56
No major economic data with direct bearing on the commodity.
Comment: The lingering fear on the effect of coronavirus has been an influencing factor on investor decisions. Like the global financial crisis some years back, most investors are selling off all their assets and safe haven instruments to hold the dollar as it is considered safer than most instruments, hence, it is envisaged that Gold would continue its bearish move.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.08472 with take profit at 1.08196
Alternative scenario: Buy position is envisaged if price trades above 1.09574 with take profit at 1.10000
No major economic data with direct bearing on the currency
Comment: Despite the recent policy move from the EURO zone, an asset-purchase policy of $816 billion, most investors are still stampeding into the dollar. Most investors feel it's wise to sell off all assets and keep their money in dollar due to the uncertainty caused by the virus. Hence, it is expected that EURUSD would continue the current sell-off.
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