Analyst
Bearish Preference: Sell position is envisaged if price trades below 30196 with take profit at 30140
Bullish Preference: Buy position is envisaged if price trades above 30238 with take profit at 30292
No major economic data
Comment: The index gaped upon opening fueled by optimism of a faster than earlier expected economic recovery after the U.S. Food and Drug Administration granted authorization of the Pfizer/BioNTech Covid-19 vaccine last week with deliveries expected in the coming days. The possibility of additional fiscal stimulus in the US is another major cause of optimism.
Bullish Preference: Buy position is envisaged if price trades above 1.33980 with take profit at 1.34664
Bearish Preference: Sell position is envisaged if price trades below 1.33297 with take profit at 1.32587
No Fundamentals
Comments: The Cable have seen some boost as investors see that a Brexit deal is very possible soon, for this sole reason the pounds has seen a boost, also the instability in the US and the rise in COVID cases have seemed the bust very unattractive to invest in. Technically on the H1, we see that the instrument is trading above the 50 and 200 EMA, for the price to go bearish we should expect the instrument to trade below those moving averages.
Bullish Preference: Buy position is envisaged if price trades above 1834.07 with take profit at 1843.00.
Bearish Preference: Sell position is envisaged if price trades below 1828.94 with take profit at 1824.57.
No Fundamentals
Comments: Technically we see that Gold has been on a selling binge on the H1, but at the moment the price is close to strong support on the H1 and H4, we expect the price to bounce up before a breakout. With no major economic data expected, this instrument is expected to trade based on existing sentiments.
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