Analyst
Bearish Preference: Sell position is envisaged if price trades below 1.18692 with take profit at 1.18532
Bullish Preference: Buy position is envisaged if price trades above 1.18784 with take profit at 1.18899
French Flash Services PMI (EUR) 9:15 am
French Flash Manufacturing PMI (EUR) 9:15 am
German Flash Manufacturing PMI (EUR) 9:30 am
German Flash Services PMI (EUR) 9:30 am
Flash Manufacturing PMI (EUR) 10:00 am
Flash Services PMI (EUR) 10:00 am
Flash Manufacturing PMI (US) 3:45 PM
Comment: The strength of the common currency will be put to test at today's session with the release of PMI data from the zone. If the data miss forecast, it would infer that the resurgence of COVID19 has taken its toll on the economy of the zone and could turn the pair to the downside.
Bullish Preference: Buy position is envisaged if price trades above 0.91029 with take profit at 0.91150.
Bearish Preference: Sell position is envisaged if price trades below 0.90826 with take profit at 0.90528.
Manufacturing PMI (USD) 3:45PM
Comments: The buck has been struggling to break a high of 0.91239 zone and price keeps re-testing a strong support at 0.90889. There is a weak demand for the dollar after unemployment claims came out bad last week, and the US keeps seeing record numbers of new corona-virus cases. Analyst believes that this instrument still has room to fall lower, as the Swiss looks to strengthen against the dollar.
Bullish Preference: Buy position is envisaged if price trades above 45.61 with take profit at 46.12.
Bearish Preference: Sell position is envisaged if price trades below 44.96 with take profit at 44.46.
No major economic data with a bearing on the commodity
Comments: Brent prices rose as investor and traders eyed a recovery in crude oil demand, thanks to the successful corona-virus vaccine trials, also a belief that OPEC + would keep output in check added to the optimism. On the daily chart, we have seen prices broke the 200 EMA, this could signify a major bullish run for the instrument. As the possibility of major economies rescinding the lock-down and demand for oil looks to increase in the upcoming days.
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