Analyst
Bearish Preference: Sell position is envisaged if price trades below 30192 with take profit at 30092
Bullish Preference: Buy position is envisaged if price trades above 30243 with take profit at 30297
Philly Fed Manufacturing Index (USD) 2:30 PM
Unemployment Claims (USD) 2:30 PM
Comment: The summary of the Fed's Economic projections showed some optimism as real GDP forecast was raised by 0.2% for both 2021 and 2022 with lowered unemployment rate expectations and raised core PCE inflation projections. The Index Sentiment is expected to be driven by the authorization of Moderna COVID-19 vaccine this week adding to Pfizer's drug which was approved last week and could spur faster economic recovery.
Bullish Preference: Buy position is envisaged if price trades above 1875.00 with a take profit 1881.90.
Bearish Preference: Sell position is envisaged if price trades below 1868.00 with take profit at 1853.00.
No major economic data with direct bearing to this pair
Comment: Gold lifted yesterday after the dovish stance of the federal reserve as their plan is to keep interest rate really low till an economic recovery was in sight. This made safe havens such as gold to rise while weakening the dollar. It is envisaged that this commodity's continued strength won't fade yet.
Bullish Preference: Buy position is envisaged if price trades above 1.22355 with take profit at 1.22455.
Bearish Preference: Sell position is envisaged if price trades below 1.22240 with take profit at 1.22079.
No major economic data with direct bearing to this commodity
Comment: The EURO has seen massive gains as the dollar's weakness continues and the currency declines further. This continued strength in the euro came as a result of Jerome Powell's speech and plans to keep interest rates low till the US economy recovers. It is envisaged that the weakness will continue further.
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