Analyst
Bearish Preference: Sell position is envisaged if price trades below 1.22531 with take profit at 1.22200
Bullish Preference: Buy position is envisaged if price trades above 1.22713 with take profit at 1.22995
No major economic data with bearing on the pair
Comment: The dollar index remains pressured in Yesterday's session as hopes of further support from government weigh on sentiment. Steve Mnuchin, US Treasury Secretary, announced the release of $600 stimulus payment with Senate Leader putting forward the $2000 paycheck bill. The common currency is expected to further consolidates on its recent gain, despite thinned trading.
Bullish Preference: Buy position is envisaged if price trades above 30383 with take profit at 30475.
Bearish Preference: Sell position is envisaged if price trades below 30205 with take profit at 30104.
None with direct impact on the index.
Comment: U.S. stock index futures were slightly higher in early morning trading on Wednesday as the market tried to reclaim record highs. President Donald Trump has supported higher payments, and on Tuesday said in a tweet that the move should be approved. With just two trading days left in the year, the major averages are on track to end 2020 higher.
Bullish Preference: Buy position is envisaged if price trades above 1886.78 with a take profit at 1892.77
Bearish Preference: Sell position is envisaged if price trades below 1876.45 with take profit at 1873.40.
None with direct impact on the commodity.
Comment: Gold was up on Wednesday morning in Asia, boosted by a weaker dollar. Investors are also digesting the news that U.S. Senate Majority Leader Mitch McConnell postponed a vote on increasing the amount of U.S. stimulus checks.
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