Morning Insights 8th July

Simon Alagbe

Analyst


Instrument: EURUSD

The Greenback continued its recent dominance against the common currency in Yesterday's session. Economic data releases from the United States has pointed to a strong economic recovery and was further confirmed by the minute of the Last Federal Reserve meeting released yesterday. The pair is hovering around a dominant support zone on most timeframes with some retracement expected around the zone in the coming days. 


Technicals: 

The presence of a bullish engulfing candle around a support on the hourly timeframe favours the bulls on the pair with a target at 1.18653 and stop loss at 1.17787. 


Fundamentals 

Unemployment Claims (USD)  1:30 PM


Use your preferred trading platform

Register Now


Payment Options

What Clients Say?