Daily Trading Analysis 15.04.2020

Technical & Fundamental analysis

Trading Analysis AUD/USD In New Zealand, because of the coronavirus, the salaries of government members and heads of government departments and agencies were cut by 20 percent. Prime Minister Jacinda Ardern told journalists about the government's decision April 15. According to Ardern, such salary cuts for senior government officials, including the Prime Minister, will "equalize the income of citizens affected by the pandemic" and reduce the negative impact of the situation on the economy. Our Analysis: Provided that the currency pair is traded below 0.6117, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6073 Take Profit 1: 0.6005 Take Profit 2: 0.5972 Alternative scenario: In case of breakout of the level 0.6117, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6117 Take Profit 1: 0.6171 Take Profit 2: 0.6203 Learn More Trading Analysis of NZD/USD 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: Should price action for the NZD/USD remain inside the or breakout above the 0.5985 to 0.6055 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6030 Take Profit Zone: 0.6580 – 0.6665 Stop Loss Level: 0.5940 Alternative scenario: Should price action for the NZD/USD breakdown below 0.5985 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.5940 Take Profit Zone: 0.5775 – 0.5840 Stop Loss Level: 0.5985 Learn More Trading Analysis of GOLD/USD June gold futures reached $1788.8 per ounce at Comex on April 14. According to MarketWatch estimates, this is close to the highest level since 2011. The prices are supported by concerns about the global economy, as well as quarterly results of companies. "Major corporate reports are beginning to be published, which will reflect the first impact of the COVID-19 pandemic and will serve as a sobering reminder of what difficult times in the economy are now," - quoted by MarketWatch analysts Kitco. For example, the net profit of JPMorgan Chase & Co. (SPB: JPM), the largest bank in the U.S. by asset size, fell by 69%. Our Analysis: Provided that the price is above 1715.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1715.00 Take Profit 1: 1738.00 Take Profit 2: 1747.00 Alternative scenario:  In case of breakdown of the level 1715.00 and the consolidation of the price above this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1715.00 Take Profit 1: 1706.00 Take Profit 2: 1696.00 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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