Daily Trading Analysis 01.07.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY The currency pair Dollar Yen is trading at 107.73 and keeps moving within the growth frame. USD/JPY is moving above the upper boundary of Ichimoku Kinko Hyo Cloud. This indicates that there is a bullish trend in the USD/JPY. Our Analysis: Provided that the currency pair is traded above 107.50, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 107.65 Take Profit 1: 107.90 Take Profit 2: 108.15 Alternative scenario: In case of breakdown of the level 107.50, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 107.50 Take Profit 1: 107.30 Take Profit 2: 107.00 Learn More Trading Analysis of GOLD/USD Gold has been held close to its peak for almost eight years and may show the most significant quarterly growth in more than four years as the sharp rise in coronavirus cases has increased demand for shelter assets. The rise in coronavirus cases in the US and the ongoing Chinese-US standoff point to buying gold as a safe asset. Our Analysis: Provided that the price is above 1772.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1783.00 Take Profit 1: 1939.00 Take Profit 2: 1800.00 Alternative scenario: In case of breakdown of the level 1772.00 and the consolidation of the price above this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1772.00 Take Profit 1: 1764.00 Take Profit 2: 1758.00 Learn More Fundamental Trading Analysis of EUR/CHF German Retail Sales for May increased by 13.9% monthly and by 3.8% annualized. Economists predicted an increase of 3.9% monthly and a decrease of 3.5% annualized. Forex traders can compare this to German Retail Sales for April, which decreased by 6.5% monthly and by 6.4% annualized. The German Unemployment Change for June was reported at 69K and the German Unemployment Rate at 6.4%. Our Analysis: Should price action for the EUR/CHF remain inside the or breakdown below the 1.0620 to 1.0665 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.0640 Take Profit Zone: 1.0500 – 1.0545 Stop Loss Level: 1.0690 Alternative scenario: Should price action for the EUR/CHF breakout above 1.0665 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.0690 Take Profit Zone: 1.0750 – 1.0790 Stop Loss Level: 1.0665 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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