Analyst
Bearish Preference: Sell position is envisaged if price trades below 29864 with take profit at 29774
Bullish Preference: Buy position is envisaged if price trades above 29922 with take profit at 30041
No major economic data with direct bearing on the index
Comment: The index is trading within a bullish channel as optimism surrounding the COVID-19 vaccine continue to support the return to ''normal'' of the global economy sooner than later. Reports from AstraZeneca states that the firm will likely run a global trial to access the efficacy of a lower dosage of its vaccine would further spur positive sentiment in the market.
Bullish Position: Buy position is envisaged if price trades above 1819.72 with a take profit 1823.28
Bearish Position: Sell position is envisaged if price trades below 1796.51 with take profit at 1798.46
No major economic data with a direct bearing to this pair.
Comment: Gold continues to feel the pull of gravity after facing rejection at $1818 for two consecutive days. Despite the uncertainty about the coronavirus vaccine development and continued escalation in the infections globally, gold remains vulnerable amid thin trading conditions as the thanksgiving season is here. The mixed sentiment of traders for hiccups in vaccine production is giving the safe-haven commodity a slightly upward boost.
Bullish Position: Buy position is envisaged if price trades above 104.30 with a take profit 104.40
Bearish Position: Sell position is envisaged if price trades below 103.6 with take profit at 103.42
No major economic data with direct bearing to this pair.
Comment: USD/JPY drops to 104.10, down 0.14% intraday, during the Asian session on Friday. The pair recently refreshed the intraday low amid challenges to the previous risk-on mood, and the Japanese government’s announcement concerning the coronavirus (COVID) relief stimulus. Also boosting the trend was the beginnings of a transition from incumbent President Donald Trump's administration to that of President-elect Joe Biden.
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