Daily Trading Analysis 25.09.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD  The U.S. dollar rose Thursday as concerns over the global economic recovery, given the second wave of COVID-19 infections, prompted traders to abandon more risky assets in favor of safe haven ones. Our Analysis: Provided that the currency pair is traded below 1.2775, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2754 Take Profit 1: 1.2730 Take Profit 2: 1.2705 Alternative scenario: In case of breakout of the level 1.2775, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2775 Take Profit 1: 1.2800 Take Profit 2: 1.2825 Learn More Trading Analysis of S&P 500 Index The U.S. stock market completed trading Thursday with growth due to the strengthening of the utilities, raw materials, and telecommunications sectors. At the close of the NYSE, the S&P 500 index rose 0.30 percent. Our Analysis: Provided that the index is traded above 3209.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3246.59 Take Profit 1: 3325.00 Take Profit 2: 3375.00 Alternative scenario: In case of breakout of the level 3209.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3209.00 Take Profit 1: 3175.00 Take Profit 2: 3135.00 Learn More Fundamental Trading Analysis of Procter & Gamble It cannot be denied that Procter & Gamble is one of the largest and most recognizable names in the consumer goods sector. But the size and pedigree do not necessarily lead to eternal success. Just take a look at General Electric. Our Analysis: Provided that the company is traded above 133.90, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 138.43 Take Profit 1: 142.80 Take Profit 2: 144.60 Alternative scenario: In case of breakdown of the level 133.90, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 133.90 Take Profit 1: 130.80 Take Profit 2: 129.00 Learn More Fundamental Trading Analysis of USD/SGD Singapore Industrial Production for August increased by 13.9% monthly and by 13.7% annualized. Economists predicted an increase of 2.6% and 4.6%. Forex traders can compare this to Singapore Industrial Production for July, which increased by 2.3% monthly, and which decreased by 7.6% annualized. US Preliminary Durable Goods Orders for August are predicted to increase by 1.5% monthly, and Durables Excluding Transportation are predicted to increase by 1.2% monthly. Forex traders can compare this to US Durable Goods Orders for July, which increased by 11.4% monthly, and to Durables Excluding Transportation, which increased by 2.6% monthly. Our Analysis: Should price action for the USD/SGD remain inside the or breakdown below the 1.3730 to 1.3770 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.3745 Take Profit Zone: 1.3525 – 1.3575 Stop Loss Level: 1.3800 Alternative scenario: Should price action for the USD/SGD breakout above 1.3770 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.3800 Take Profit Zone: 1.3860 – 1.3900 Stop Loss Level: 1.3770 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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