Bearish Preference: Sell position is envisaged if price trades below 30512 with take profit at 30432
Bullish Preference: Buy position is envisaged if price trades above 30563 with take profit at 30683
No major economic data with bearing on the index
Comment: The index is envisaged to continue where it closed at the end of 2020. The hopes of a speedy rollout of vaccines dominate sentiment despite the surge in fresh cases leading to tighter restrictions and damage to the economy.
Bullish Preference: Buy position is envisaged if price trades above 53.30 with take profit at 53.59
Bearish Preference: Sell position is envisaged if price trades below 52.84 with take profit at 52.43.
OPEC-JMMC Meetings (All-day)
Comments: Oil prices saw a surge last week, and we can attribute that to the rise in vaccine distribution, we expect prices to cool off at the moment since oil has broken past the $50 mark, for now, we should expect a mild retracement. before the price would break the major resistance on the H1.
Bullish Preference: Buy position is envisaged if price trades above 0.77483 with take profit at 0.77919
Bearish Preference: Sell position is envisaged if price trades below 0.77188 with take profit at 0.76923.
No major economic data with bearing on the pair.
Comments: The buck has been mercurial against major currency pairs but against the Aussie we see that the instrument on the H1 is approaching an untested resistance, price doesn't have the momentum to break this resistance so I expect the pair to trade lower than 0.77326.
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