Daily Trading Analysis 06.04.2020

Trading Analysis EUR/AUD 

UAustralian TD Securities Inflation for March increased by 0.2% monthly and by 1.5% annualized. Forex traders can compare this to Australian TD Securities Inflation for February, which decreased by 0.1% monthly and which increased by 1.6% annualized. 

Our Analysis:

Should price action for the EUR/AUD remain inside the or breakdown below the 1.7735 to 1.8120 zone the following trade set-up is recommended:
  • Timeframe: D1
  • Recommendation: Short Position
  • Entry Level: Short Position @ 1.7875
  • Take Profit Zone: 1.6085 – 1.6365
  • Stop Loss Level: 1.8250

Alternative scenario:

Should price action for the EUR/AUD breakout above 1.8120 the following trade set-up is recommended:
  • Timeframe: D1
  • Recommendation: Long Position
  • Entry Level: Long Position @ 1.8250
  • Take Profit Zone: 1.8745 – 1.8855
  • Stop Loss Level: 1.8120

Trading Analysis of eBay
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Our Analysis:

Provided that the asset is traded above 28.20, follow the recommendations below:
  • The timeframe: H4
  • Recommendation: long position
  • Entry point: 29.00
  • Take Profit 1: 31.40
  • Take Profit 2: 33.50

Alternative scenario:

In case of breakdown of the level 28.20, follow the recommendations below:
  • The timeframe: H4
  • Recommendation: short position
  • Entry point: 28.20
  • Take Profit 1: 25.95
  • Take Profit 2: 23.90

Risk Warning: Forex and CFD trading carry a high degree of risk. As such they may not be suitable for all investors. Investors should ensure they fully understand the risks associated with CFD trading before deciding to trade. Investors may choose to seek independent advice and should not risk more than they are prepared to lose.

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