Analyst
Intraday: Bearish
Preference: A sell trade is envisaged if price trades below 1.07794 with take profit at 1.07545
Alternative scenario: A buy trade is envisaged if price trades above 1.08086 with take profit at 1.08236
Unemployment Claims (USD) 1:30pm
ECB President Lagarde Speaks (EUR) 3 pm
Comment: Generally speaking, this pair has struggled to break past a strong resistance level and it keeps on pushing downward given the recent court ruling as Germany decides to rule the European central bank’s bond-buying program illegal while also stating the euros incompetence in COVID19 response. However, the dollar still lives off the little strength it has and keeps putting pressure on the euro. It is envisaged that this pair would sell today.
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 23709 with take profit at 23865
Alternative scenario: Sell position is envisaged if price trades below 23626 with take profit at 23480.
Unemployment Claims (USD) 1:30 pm
Comment: Fundamentally, this instrument has been trading upwards since late last night with investors preparing for unemployment claims data set to drop by 1:30 pm today. Investors are confident these claims would decline and show a positive light that a lower number of persons are out of jobs. It is envisaged that this expected positive data would be the catalyst to push us30 upwards today.
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