Analyst
Bullish Preference: Buy position is envisaged if price trades above 1.17478 with take profit at 1.17638
Bearish Preference: Sell position is envisaged if price trades below 1.17142 with take profit at 1.17100.
EU Economic Summit (EU) All-day
Comment: The euro edged lower in the early hours of today because of investors fear of the increased cases of COVID-19, and the negative BREXIT sentiment, however, there has been uncertainty in the US economy and the low-interest rate which reduced its attractiveness, hence, investors are buying EUR/USD at the dip.
Bearish Preference: Sell position is envisaged if price trades below 28,200 with take profit at 28,000.
Bullish Preference: Buy position is envisaged once price trades above 28,400 with take profit at 28,600.
EU Economic Summit (EU) All day
Comment: Yesterday, most tech stocks reported great earnings for the previous quarter, which showed that the U.S economy was not doing so bad; however, the index dipped a bit as hopes for a stimulus package fades slowly, along with increased cases of more infected people from COVID-19. It is envisaged that investors will sell this index, given that it is trading in the overbought region.
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Adefuwa Ayodele