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Daily Market Analysis 21|05|2020: USDCAD

Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 1.39607 with take profit at 1.40056 Alternative scenario: Sell position is envisaged if price trades below 1.38970 with take profit at 1.38573 Fundamentals:USD  Flash manufacturing PMI 2:45pmUSD Fed. Chair Powell speaks 7:30pm Comment: Technically, this pair reached a 14 day low, forming a double bottom which …

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Daily Market Analysis 20|05|2020: USDCAD

Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1.39092 with take profit at 1.38737 Alternative scenario: Buy position is envisaged if price trades above 1.39711 with take profit at 1.40137 Fundamentals:No major economic data with direct bearing on the commodity expected today Comment: The Canadian dollar is on the rise amid the better market …

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Daily Market Analysis 18|05|2020: EURUSD

Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1.08113 with take profit at 1.07834 Alternative scenario: Buy position is envisaged if price trades above 1.08286 with take profit at 1.08451 Fundamentals:No major economic data expected today Comment: The hawkish statement of the Chairman of the Federal Reserve earlier today is envisaged to lend …

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Daily Market Analysis 14|05|2020: EURUSD

Intraday: Bearish Technical Analysis Preference: Sell position is envisaged if price trades below 1.08031 with take profit at 1.07809 Alternative scenario: Buy position is envisaged if price trades above 1.08328 with take profit at 1.08779 Fundamentals:1:30 pm Unemployment Claims (USD) Comment: This pair got rejected at the 1.08 level after the Fed Chair made a statement squashing all …

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Daily Market Analysis 13|05|2020: US30

Intraday: Bearish Technical Analysis Preference: A Sell position is envisaged if price trades below 23569 with take profit at 23375 Alternative scenario: Buy position is envisaged if price trades above 23786 with take profit at 23975 Fundamentals:1:30pm    USD    Core PPI m/m                    USD    PPI m/m2:00pm   USD    Fed Chair Powell Speaks Comment: Stocks …

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Daily Market Analysis 12|05|2020: USDJPY

Intraday: Bullish Technical Analysis Preference: A Buy position is envisaged if price trades above 107.610 with take profit at 107.900 Alternative scenario: Sell position is envisaged if price trades below 107.557 with take profit at 107.348 Fundamentals:Core CPI m/m (USD) 1:30 pmCPI m/m (USD) 1:30 pm Comment: The JPY has seen steady decline against other major currency pair, and …

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Daily Market Analysis 11|05|2020: EURUSD

Intraday: Bearish Technical Analysis Preference: A Sell position is envisaged if price trades below 1.08420 with take profit at 1.07936 Alternative scenario:  Buy position is envisaged if price trades above 1.08522 with take profit at 1.08862 Fundamentals:No major economic data expected today Comment: The pair recovered slightly on opening but was stalled by the 200 Exponential Moving Average acting …

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Daily Market Analysis 07|05|2020: US30

Intraday: Bullish Technical Analysis Preference: Buy position is envisaged if price trades above 23709 with take profit at 23865  Alternative scenario: Sell position is envisaged  if price trades below 23626 with take profit at 23480. Fundamentals:USD  Unemployment Claims 1:30pm Comment: Fundamentally, this instrument has been trading upwards since late last night with investors preparing for the data for …

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