Analyst
Bullish Preference: Buy position is envisaged if price trades above 1.17912 with take profit at 1.18205.
Bearish Preference: Sell position is envisaged if price trades below 1.17500 with take profit at 1.17294.
None with a high impact on the pair
Comment: Europe continues to be hit hard with the second wave of the virus, with many of the region’s countries reporting soaring infection rates. Restrictions imposed to combat the pandemic have had a limited effect to date, prompting fears of more imposing measures. Most EU cities are considering a second phase of lockdown, as Spain has already announced a state of emergency for six months.
Bearish Preference: Sell position is envisaged if price trades below 40.40 with take profit at 39.52.
Bullish Preference: Buy position is envisaged if price trades above 40.68 with take profit at 40.92.
Crude Oil Inventories (USD) 3:30PM
Comment: Oil prices slid about 2 per cent on Wednesday, giving up most of the previous day's gains, as a surge in U.S. crude stocks and growing Coronavirus infections in the United States and Europe fanned fears of a supply glut in oil and weaker fuel demand.
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