Morning Insights 27th July

Simon Alagbe

Analyst


Instrument: OIL

Intraday: Bearish

Technical Analysis

Preference: Sell position is envisaged if price trades below 42.95 with take profit at 42.41.

Alternative scenario: Buy position is envisaged if price trades above 43.34 with take profit at 43.79.

Fundamentals:

No major economic data with bearing on this commodity.

Comment: The commodity is envisaged to lose traction and trade lower as tensions between the US and China heightened amidst a rising number of infections.



Instrument: EURUSD

Intraday: Bullish

Technical Analysis

Preference: Buy position is envisaged if price trades above 1.17356 with take profit at 1.18290.

Alternative scenario: Sell position is envisaged if price trades below 1.16712 with take profit at 1.15987.

Fundamentals:

Core Durable Goods Orders m/m  (USD) 1:30 PM

Durable Goods Orders m/m  (USD) 1:30 PM

Comment: The pair crossed the  1.17 price mark for the first time since 2018 today and is still envisaged to push higher amidst the weakness of the dollar due to the US-China tensions.

Use your preferred trading platform

Register Now


Payment Options

What Clients Say?