Trading Outlook

WEEKLY TRADING OUTLOOK; GBPUSD, EURUSD, EURGBP & EURCAD | MAR-9/13-2020

Daily Trading Outlook

Intra day review for 10th of March, 2020

oil recovery is in process

Though oil has been recovered since yesterday’s worst decline, however, the overall picture seem dismal amid the number of issues like a price war between OPAC AND SAUDIA ARABIA and Coronavirus outbreak.

keeping in view above out view for the day under consideration is:

GBPUSD

Sell. @1.0935 for the Target of 1.2915 with Stop Loss. 1.3160

EURUSD

Sell @1.14207 Target. 1.12778 Stop Loss. 1.15025.

GOLD

Sell. @1667 for the Target of 1627 with Stop Loss. 1690

BITCOIN

BUY. @7764 for the Target of 8573 with Stop Loss. 7582

Oil Collapsed

It is perhaps the worst day for the oil market as it collapses and crashed as many as 31% till the time of writing amid the tug of the price war between Rusia and Saudia Arabia. undoubtedly it will take really really adverse inference on part of the stock market as we have been seeing Asia and Europe plunging heavily.

Fx market has no exception we are really cautious to have any bigger position but just to pips hunting with strict stop loss.

Keeping in view the above said dire situation our view for the above said pairs are as under:-

GBPUSD

Option NO.1. Sell. @1.32009 for the Target of 1.2919 with Stop Loss. 1.32907

Option NO.2. Buy @1.2953 for 1.32009 with SL. 1.2836

Eurusd

Option NO.1. Sell @1.15284 Target. 1.11743 Stop Loss. 1.16365.

Option NO. 2. Buying@ 1.10971 Stop Loss. 1.09625 Target. 1.15284.

EURGBP

Sell @0.8787 Target. 0.85087 Stop Loss. 0.9028

Eurcad

Sell @1.58103 Stop Loss. 1.61793 Target. 1.4849