Morning Insights 15th October

Simon Alagbe


Instrument: EURUSD

Technical Analysis

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. 

Instrument: US.30

Technical Analysis

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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