Analyst
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 1.18370 with take profit at key level 1.17962.
Alternative scenario: Buy position is envisaged if price trades above 1.18804 with take profit at 1.19185
No major economic data with direct bearing to this pair
Comment: Despite the continuous fear in the market and the risk of a COVID 19 wave 2, most economies are becoming more optimistic of recovery by opening their economies, which have also strengthened the dollar. The bullish move on this pair also shows sign of exhaustion and has rejected the current resistance zone 3 times hence, a bearish move is envisaged.
Intraday: Bearish
Preference: Sell position is envisaged if price trades below 2026.00 with take profit at key level at 2000
Alternative scenario: Buy position is envisaged if price trades above 2050 with take profit at 2070
No major economic data with direct bearing to this commodity
Comment: Gold broke past major resistance and reached a new high at $2k recently because of the continuous fear in the market, however, the feds have recently tried to bring more market optimism, which could also make gold fall soon. Also, gold buyers would look to take profit from this commodity soon, which would leave the market with major sellers driving the price down; Hence, a bearish move is envisaged on gold today
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