Analyst
Bearish Preference: Sell position is envisaged if price trades below 1.20819 with take profit at 1.20612
Bullish Preference: Buy position is envisaged if price trades above 1.21137 with take profit at 1.21304
German Prelim GDP q/q (EUR) 10:00 am
Comment: Improvement in risk appetite for riskier assets is expected to pressure the Greenback, regarded as a safe-haven currency. EURUSD is currently supported by the 1.20855 price region lending support to a move to the upside.
Bearish Preference: Sell position is envisaged if price trades below 1838.93 with take profit at 1835.33
Bullish Preference: Buy position is envisaged if price trades above 1852.01 with take profit at 1857.53
No major economic data
Comment: After a week trending downwards, gold was up Friday morning in Asia as investors waited for news from the U.S. on a $1.9 trillion stimulus package proposed by President Joe Biden. Currently Gold is below the 48 EMA on the daily and the stimulus news may change its momentum in the long run.
Bearish Preference: Sell position is envisage if price trades below 30014 with take profit at 29910
Bullish Preference: Buy position is envisaged if price trades above 30403 with take profit at 30531
No major fundamentals
Comments: The Dow cut its gains into the close but still ended higher Thursday, driven by mostly bullish quarterly earnings and a rise in cyclicals on expectations the economy is set to rebound strongly. Investors also monitored volatile trading in shares of small-cap companies such as GameStop, which later saw a halt to trading from brokerages, drawing the attention of lawmakers in Washington.
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