Daily Trading Analysis 22.09.2020

Technical & Fundamental analysis

Trading Analysis of USD/CAD The sales figures without cars are worrying. The population continued to receive state support in July and August, but spending was reduced. The fact that part of sales is growing against the backdrop of unsatisfied demand is worrisome, and once it is satisfied, the indicator will fall below pre-pandemic levels Our Analysis: Provided that the currency pair is traded above 1.3275 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3315 Take Profit 1: 1.3340 Take Profit 2: 1.3370 Alternative scenario: In case of breakdown of the level 1.3275, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3275 Take Profit 1: 1.3240 Take Profit 2: 1.3210 Learn More Trading Analysis of GOLD/USD Gold prices fell to their lowest level in almost two weeks on Monday amid a stronger dollar, while investors are waiting for the Federal Reserve to comment this week. Our Analysis: Provided that the price is below 1927.00 follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1911.50 Take Profit 1: 1896.00 Take Profit 2: 1882.00   Alternative scenario: In case of breakout of the level 1927.00 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1927.00 Take Profit 1: 1934.00 Take Profit 2: 1943.00 Learn More Fundamental Trading Analysis of Tesla  Tesla made a huge leap after reporting second-quarter earnings, followed by a 5-to-1 split. After the split and recovery from the March low, is it worth buying Tesla shares now? Our Analysis:  Provided that the company is traded above 364.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 442.15 Take Profit 1: 554.00 Take Profit 2: 606.00 Alternative scenario: In case of breakdown of the level 364.00 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 364.00 Take Profit 1: 282.00 Take Profit 2: 233.00 Learn More Fundamental Trading Analysis of GOLD/USD Global economic data suggests that the post-lockdown recovery has lost steam. Trade remains depressed, and high-frequency indicators suggest that consumers are slowing down, which will have a ripple effect throughout the business cycle. New daily Covid-19 infections have surpassed the previous peak in June in a growing number of countries, adding to a depressed outlook globally. With the US Federal Reserve guaranteeing US Dollar weakness, gold has more upside ahead, with a new all-time high this year on the table. Our Analysis: Should price action for GOLD/USD remain inside the or breakout above the 1,882.00 to 1,919.85 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1,904.50 Take Profit Zone: 2,035.00 – 2,075.00 Stop Loss Level: 1,864.00 Alternative scenario: Should price action for GOLD/USD breakdown below 1,882.00 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1,864.00 Take Profit Zone: 1,791.00 – 1,817.50 Stop Loss Level: 1,882.00 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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