Daily Trading Analysis 18.09.2020

Technical & Fundamental analysis

Trading Analysis of NZD/USD In June, New Zealand Gross Domestic Product declined 12.2%, the largest quarterly decline since 1987. Our Analysis: Provided that the currency pair is traded above 0.6749 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6786 Take Profit 1: 0.6823 Take Profit 2: 0.6841 Alternative scenario: In case of breakdown of the level 0.6749 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6749 Take Profit 1: 0.6719 Take Profit 2: 0.6701 Learn More Trading Analysis of GOLD/USD  Gold lost nearly 1 percent on Thursday after the U.S. Federal Reserve announced that it had failed to meet investors' expectations for further inflation stimulus and support for the coronavirus-affected economy. Our Analysis: Provided that the price is above 1941.00 please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1952.12 Take Profit 1: 1964.00 Take Profit 2: 1974.00   Alternative scenario: In case of breakdown of the level 1941.00 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1941.00 Take Profit 1: 1932.00 Take Profit 2: 1921.00 Learn More Fundamental Trading Analysis of Facebook  This year Facebook has regained its reputation at FANG, by proving that all those who doubt are wrong. Facebook's second-quarter revenue beat Wall Street assessments. Sales increased by 11 percent over last year despite the pandemic that pushed the global economy into recession. Even additional pressure from a loud advertising boycott in July couldn't keep Facebook revenue from growing by 10% at the beginning of the third quarter. Our Analysis: While the price is below 287.70, follow the recommendations below: Time frame: D1 Recommendation: short position Entry Point: 263.52 Take Profit 1: 239.30 Take Profit 2: 228.30 Alternative scenario: In case of breakout of the level 287.70, follow the recommendations below: Time frame: D1 Recommendation: long position Entry Point: 287.70 Take Profit 1: 307.30 Take Profit 2: 319.00 Learn More Fundamental Trading Analysis of GBP/USD UK Retail Sales for August increased by 0.8% monthly and by 2.8% annualized. Economists predicted an increase of 0.7% and 3.0%. Forex traders can compare this to UK Retail Sales for July, which increased by 3.7% monthly and by 1.4% annualized. UK Core Retail Sales for August increased by 0.6% monthly and by 4.3% annualized. Economists predicted an increase of 0.4% and 4.2%. Forex traders can compare this to UK Core Retail Sales for July, which increased by 2.1% monthly and by 3.1% annualized. Our Analysis: Should price action for the GBP/USD remain inside the or breakout above the 1.2925 to 1.3010 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.2965 Take Profit Zone: 1.3355 – 1.3480 Stop Loss Level: 1.2885 Alternative scenario: Should price action for the GBP/USD breakdown below 1.2925 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.2885 Take Profit Zone: 1.2670 – 1.2760 Stop Loss Level: 1.2925 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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