Morning Insights 8th April

Simon Alagbe

Analyst

Instrument: EURUSD

Intraday: Bearish

Technical Analysis

Preference: Sell position is envisaged if price trades below 1.08423 with take profit at 1.08116

Alternative scenario: Buy position is envisaged if price trades above 1.08695 with take profit at 1.08899

Fundamentals:

No Fundamentals

Comment: The dollar found a footing earlier today as investors returned to safe-havens, unwinding some risk currency gains made on hopes the coronavirus crisis in Europe and New York was slowing. 



Instrument: USDJPY

Intraday: Bearish

Technical Analysis

Preference: Sell position is envisaged if price trades below 108.724 with take profit at 108.545

Alternative scenario: Buy position is envisaged if price trades above 108.883 with take profit at 109.259

Fundamentals:

No Fundamentals 

Comment: New York state and the United Kingdom announced their highest daily death toll overnight, despite the falling number of cases reported in the beginning of the week. New York governor Andrew Cuomo reported a total of 5,489 deaths in the state.

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