Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.30593 with take profit at key level 1.30134.
Alternative scenario: Buy if price trades above 1.31192 with take profit at 1.31512.
No major economic data with bearing on the pair
Comment: There are no fundamentals moving this market today, so we expect the markets to trade solely on technical analysis. Looking at the H1 time frame we see the instruments have made lower lows and we expect the it to fall lower to the 1.300 region.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1968.21 with take profit at key level 1962.40.
Alternative scenario: Buy if price trades above 1986.05 with take profit at 2003.49.
No major economic data with direct bearing on the commodity
Comment: The yellow metal has seen peaks of historical levels thanks to the weak dollar, and the US law maker's uncertainty concerning the new stimulus package bill in congress. As time pass by investors feel there is optimism that Congress would get their acts together and pass the bill. So we are seeing a slow but steady rise in the dollar.
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