Analyst
Bearish Preference: Sell position is envisaged if price trades below 29926 with take profit at 29850
Bullish Preference: Buy position is envisaged if price trades above 30048 with take profit at 30124
No major economic data with direct bearing on the index
Comment: Dow Jones traded lower in yesterday's session, pressured by the concerns emanating from the rising number of new infections necessitating further lockdown. Optimism grew among investors when progress was recorded towards the global rollout of Coronavirus vaccine but the number of casualties surging to record levels as shown that it will take some time before the world can return to "normal".
Bullish Preference: Buy position is envisaged if price trades above 1.21370 with take profit at 1.21529.
Bearish Preference: Sell position is envisaged if price trades below 1.20908 with take profit at 1.20723
No major economic data with direct bearing on the pair.
Comments: European markets are seen opening mixed Tuesday, as investors attempt to balance Brexit uncertainty and coronavirus-inspired lockdowns against an upcoming vaccine rollout and likely fiscal stimulus, However, help is on the way. The U.K. starts vaccinating its public with the Pfizer/BioNTech injection Tuesday, while the European authorities in other regions are expected to allow its rollout by the end of the month.
Bullish Preference: Buy is envisaged if price trades above 104.140 with take profit at 104.247.
Bearish Preference: Sell is envisaged if price trades below 103.998 with take profit at 103.906.
No major economic data with direct bearing on the pair.
Comments: The surge in COVID-19 cases in the U.S. boosted hopes for more fiscal support, which actually provided some stimulus to the greenback. The new stimulus deal is urgently needed as California imposed new COVID-19 restrictions, Markets are focusing more on the prospects of more fiscal stimulus, and the urgency to have this to aid small business is at its peak.
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