Daily Trading Analysis 14.04.2020

Technical & Fundamental analysis

Trading Analysis AUD/USD Australian NAB Business Conditions for March were reported at -21, and Australian NAB Business Confidence at -66. Forex traders can compare this to NAB Business Conditions for February, which were reported at 0 and to Australian NAB Business Confidence, which was reported at -2. The Chinese Trade Balance for March was reported at $19.90B. Economists predicted a figure of $18.55B. Forex traders can compare this to the Chinese Trade Balance for February, which was reported at -$7.09B. Exports for March decreased by 6.6% annualized and Imports decreased by 0.9% annualized. Economists predicted a decrease of 14.0% and 9.5%. Forex traders can compare this to Exports for February, which decreased by 17.2% annualized and to Imports, which decreased by 4.0% annualized. Our Analysis: Should price action for the AUD/USD remain inside the or breakout above the 0.6325 to 0.6425 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6400 Take Profit Zone: 0.6825 – 0.6935 Stop Loss Level: 0.6225 Alternative scenario: Should price action for the AUD/USD breakdown below 0.6325 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.6225 Take Profit Zone: 0.5810 – 0.5870 Stop Loss Level: 0.6325 Learn More Trading Analysis of USD/CAD The USD/CAD is being traded at 1.3861 and keeps moving within the correction and descending channel. The pair is being traded below the lower boundary of the Ichimoku Kinko Hyo Cloud. This indicates that the US Dollar Canadian Dollar is in a bearish trend. Our Analysis: Provided that the currency pair is traded below 1.3905, follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 1.3873 Take Profit 1: 1.3850 Take Profit 2: 1.3815 Alternative scenario: In case of breakout of the level 1.3905, follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 1.3905 Take Profit 1: 1.3925 Take Profit 2: 1.3955 Learn More Trading Analysis of McDonald`s McDonald's Corporation recently provided an update on the impact of the Coronavirus Pandemic (COVID-19) on its business ahead of the first quarter 2020 results, which are expected to be released on April 30, 2020. In the two months to 29 February, comparable sales in the U.S. and international markets increased 8.1% and 8.5%, respectively. However, the figure decreased by 13.4% and 34.7% in the U.S. and international markets, respectively. Comparable total sales decreased by 22.2% in March. Our Analysis: Provided that the asset is traded above 169.70, follow the recommendations below: The timeframe: H4 Recommendation: long position Entry point: 180.00 Take Profit 1: 185.50 Take Profit 2: 200.00 Alternative scenario:  In case of breakdown of the level 169.70, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 169.70 Take Profit 1: 161.70 Take Profit 2: 154.90 Learn More ‌ ‌ ‌ ‌ ‌ 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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