Daily Trading Analysis 28.07.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD The dollar continued its decline in European trading on Monday under the influence of doubts about the strength of the U.S. economic recovery and in anticipation of the Federal Reserve meeting on July 28-29 Our Analysis: Provided that the currency pair is traded below 1.1780, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1733 Take Profit 1: 1.1705 Take Profit 2: 1.1680 Alternative scenario: In case of breakout of the level 1.1780, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1780 Take Profit 1: 1.1810 Take Profit 2: 1.1845 Learn More Trading Analysis of Apple Intel's delayed chip shipments demonstrate why Apple decided to switch to manufacturing its own processors for the Mac. This decision was announced at Apple's developer conference last month. After switching to manufacturing its own processors, which Apple claims will take about two years, the company will have to rely more on Intel's production cycle. Apple's general manager Tim Cook said the first Macs running on their own chips will appear later this year.  Our Analysis: Provided that the asset is traded above 372.80, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 378.88 Take Profit 1: 385.80 Take Profit 2: 389.20 Alternative scenario: In case of breakdown of the level 372.80, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 372.80 Take Profit 1: 367.20 Take Profit 2: 364.00 Learn More Fundamental Trading Analysis of ETH/USD Data published by Ethereum mining pool Sparkpool revealed a sharp increase in the daily profitability of miners. It rose from $1.85 per MH/s to $3.27 before retreating to around $3.00. Demand for decentralized finance (DeFi) apps contributed to the increase. Enthusiasts should remain cautious as the total computing power for Ethereum remained stable near 190 PH/s. The current increase in profitability may remain temporary as the hype tends to fizzle out. Our Analysis: Should price action for the ETH/USD remain inside the or breakdown below the 307.90 to 332.55 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 315.00 Take Profit Zone: 213.80 – 234.15 Stop Loss Level: 338.00 Alternative scenario: Should price action for the ETH/USD breakout above 332.55 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 338.00 Take Profit Zone: 358.70 – 366.45 Stop Loss Level: 332.55 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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