Analyst
Intraday: Bullish
Preference: A buy trade is envisaged if price trades above 23466 with take profit at 23500
Alternative scenario: A sell trade is envisaged if price trades below 23257 with take profit at 23155
Unemployment claims (US) 1:30 pm
Fed chair Powell speaks (US) 3 pm
Comment: Most investors are seeking the slightest reason to buy more stocks; the speech of the Fed Chair today will aid their decisions on if they would be seeing a bullish run on US30 or not. Most stocks have been rising on hopes that the pandemic has neared a peak and governments would soon begin rolling out more stimulus measures.
Intraday: Bearish
Preference: A sell trade is envisaged if price trades below 1.08495 with take profit at 1.08286
Alternative scenario: A buy trade is envisaged if price trades above 1.08585 with take profit at 1.08847
ECB Monterrey policy meeting (EU) 12:30 pm
Unemployment claims (US) 1:30 pm
Fed chair Powell speaks (US) 3 pm
Comment: The bearish EURO has been as a result of the EU finance ministers failing to agree on more economic support for their COVID affected economies. It is even more disappointing seeing that this decision has been going on for a while now but still no plan has been drawn. Hence, most investors are wary of investing in the euro currently. Generally speaking, the Euro has been on a free fall for the last few weeks; seeing that the general trend since the COVID 19 has been bearish, it is expected to continue the downside move. Hence, a sell should be expected on this pair.
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