Daily Trading Analysis 27.08.2020

Technical & Fundamental analysis

Trading Analysis of NZD/USD BlueScope can close its operations in New Zealand. According to Argus Media, the Australian company BlueScope Steel may cease its steel production in New Zealand, but hopes that the focus on local supply chains will support its steel business in Australia and the United States. Our Analysis: Provided that the currency pair is traded above 0.6603 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6625 Take Profit 1: 0.6657 Take Profit 2: 0.6671 Alternative scenario: In case of breakdown of the level 0.6603 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6603 Take Profit 1: 0.6579 Take Profit 2: 0.6565 Learn More Trading Analysis of Apple Facebook reported Wednesday that Apple's new iOS 14 operating system could halve advertising revenue for Audience Network users. Using Audience Network Facebook, developers of mobile applications can place viewer-centric ads based on Facebook data. IOS 14 makes it difficult for developers to target ads to specific users and track the effectiveness of ads on different devices.  Our Analysis: Provided that the asset is traded above 497.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 503.43 Take Profit 1: 511.00 Take Profit 2: 514.60 Alternative scenario: In case of breakdown of the level 497.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 497.00 Take Profit 1: 491.00 Take Profit 2: 487.40 Learn More Fundamental Trading Analysis of USD/CHF The Swiss GDP for the second quarter decreased by 8.2% quarterly and by 9.3% annualized. Economists predicted a decrease of 8.6% and 9.6% annualized. Forex traders can compare this to the Swiss GDP for the first quarter, which decreased by 2.5% quarterly and by 0.7% annualized. Our Analysis: Should price action for the USD/CHF remain inside the or breakdown below the 0.9050 to 0.9120 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.9085 Take Profit Zone: 0.8740 – 0.8830 Stop Loss Level: 0.9155 Alternative scenario: Should price action for the USD/CHF breakout above 0.9120 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.9155 Take Profit Zone: 0.9240 – 0.9260 Stop Loss Level: 0.9120 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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