Analyst
Intraday: Bullish
Preference: Buy position is envisaged if price trades above 1.13361 with take profit at 1.13641.
Alternative scenario: Buy position is envisaged if price trades above 1.36203 with take profit at key level 1.36472.
No major economic data with direct bearing on the currency pair.
Comment: The number of new cases of infection in Florida hit a new high yesterday supporting sentiment of a likely second lockdown of more businesses in the US. The common currency is envisaged to continue its recent bullish run against the Buck as investors look forward to the possibility of successful deliberation on the 750 billion-euro recovery fund this week.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 42.65 with take profit at 41.91.
Alternative scenario: Buy position is envisaged if price trades above 43.13 with take profit at 43.54.
No major economic data with direct bearing to this commodity.
Comment: Black gold gaped down on opening this week as expectations of a recommended easing in the current output cut by the OPEC technical committee. The Joint Ministerial Monitoring Committee of OPEC will meet Tuesday and Wednesday to recommend the next level of cuts.
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