Morning Insights 1st March

Simon Alagbe

Analyst

Instrument: EURUSD

Technical Analysis

Bullish Preference: Buy position is envisaged if price trades above 1.21237  with  take profit at 1.21895.

Bullish Preference: Sell position is envisaged if price trades below price 1.20399  with take profit at 1.20090.

Fundamentals:    

Final Manufacturing PMI (EUR) 10:00 am

Italian Prelim CPI m/m (EUR) 11am

FOMC Member Williams Speaks (USD) 3 pm

Final Manufacturing PMI (USD) 3:45 pm

Comment: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy More so from the EUR zone, Survey of about 200 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.


Instrument: DE30

Technical Analysis

Bullish Preference: Buy position is envisaged if price trades above 14004.3 with  take profit at 14051.9

Bearish Preference: Sell position  is envisaged if price trades below  13816.7  with take profit at 13758.5

Fundamentals:

No major economic data with bearing on the index

Comment: Stocks plunged on Friday, as investors continued to sell tech shares that have rallied throughout the COVID-19 pandemic and rotate into cyclical stocks likely to benefit from the economy reopening. 

 

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