Morning Insights 26th May

Simon Alagbe

Analyst

Instrument: GBPUSD

Intraday: Bullish

Technical Analysis

Preference: Buy position is envisaged if price trades above 1.22508 with take profit at 1.22749.

Alternative scenario: Sell position is envisaged if price trades below 1.22337 with take profit at 1.22337.

Fundamentals:

CB Consumer Confidence (USD) 3:00 pm

Comment: The instrument has been up and down, but technically on the H1 we see that the instrument is on a strong resistance. If this instrument breaks the resistance, we expect the instrument to rise further.



Instrument: OILs

Intraday: Bullish

Technical Analysis

Preference: Buy position is envisaged if price trades above 37.37 with take profit at 38.55

Alternative scenario: Sell position is envisaged if price trades below 36.80 with take profit at 35.84

Fundamentals:

No major economic data with a bearing on the commodity 

Comment: Oil has seen a slow but steady increase in price as the economy around the world opens up from the impact of the COVID19. Though the US-SINO trade war has slowed the Oil progression.

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?