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Daily Analysis

Daily Market Analysis 21|07|2020: GBPUSD

Instrument: GBPUSD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1.27199 with take profit at key level 1.27849. Alternative scenario: Sell if price trades below 1.26698 with take profit at 1.26148. Fundamentals:No Fundamentals. Comment: The EU passed a post pandemic stimulus plan for their corona-virus-hit economies on Tuesday after a fractious summit that lasted …

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Daily Market Analysis 21|07|2020: EURUSD

Instrument: EURUSD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1.14944 with take profit at key level 1.15376. Alternative scenario: Sell if price trades below 1.14511 with take profit at 1.13908. Fundamentals:No Fundamentals. Comment: The EU passed a post pandemic stimulus plan for their corona-virus-hit economies on Tuesday after a fractious summit that lasted …

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Daily Market Analysis 20|07|2020: GBPUSD

Instrument: GBPUSD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1.25772 with take profit at 1.26122. Alternative scenario: Sell position is envisaged if price trades below 1.25473 with take profit at 1.25129. Fundamentals:No major economic data with bearing on the pair Comment: The pair is surging northward as sentiment on the second wave of …

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Daily Market Analysis 20|07|2020: EURUSD

Instrument: EURUSD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1.14846 with take profit at 1.15352. Alternative scenario: Sell position is envisaged if price trades below 1.14260 with take profit at 1.13794. Fundamentals:EU Economic Summit (EUR) All-day Comment: The pair is currently trading on an upward channel on the daily chart supporting the possibility …

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Daily Market Analysis 17|07|2020: GBPUSD

Instrument: GBPUSD Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1.25210 with take profit at key level 1.24862. Alternative scenario: Buy position is envisaged if price trades above 1.25706 with take profit at 1.26014. Fundamentals:No fundamental with direct impact on the pair Comment: The dollar strengthened between yesterday and today after news of positive …

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Daily Market Analysis 17|07|2020: OIL

Instrument: OIL Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 43.00 with take profit at 42.86. Alternative scenario: Buy position is envisaged if price trades above 43.30 with take profit at 43.44. Fundamentals:No fundamental with direct impact on the commodity Comment: Oil is moving down based on bad sentiments from the OPEC meetings and …

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Daily Market Analysis 16|07|2020: GOLD

Instrument: GOLD Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1803.05 with take profit at key level 1800.50. Alternative scenario: Buy if price trades above 1808.05 with take profit at 1813.02. Fundamentals:USD 1pmCore Retail Sales m/mRetail Sales m/m Comment: Gold is expected to trade bearish after news of more COVID vaccine tests have been …

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Daily Market Analysis 16|07|2020: GBPUSD

Instrument: GBPUSD Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1.25215 with take profit at key level 1.24638. Alternative scenario: Buy position is envisaged if price trades above 1.25716 with take profit at 1.26205. Fundamentals:EUR 12:45pmMain Refinancing RateMonetary Policy StatementECB Press Conference USD 1:30pmCore Retail Sales m/mRetail Sales m/m Comment: The dollar strengthened between …

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Daily Market Analysis 15|07|2020: GOLD

Instrument: GOLD Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1810.29 with take profit at key level 1815.15. Alternative scenario: Sell if price trades below 1806.07 with take profit at 1801.21. Fundamentals:No fundamental with direct impact on the commodity. Comment: Gold was marginally down on Wednesday in Asia, reversing its earlier gains. But the …

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