Daily Trading Analysis 22.01.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canadian Prime Minister Trudeau said he was disappointed by new US President Joe Biden's order to halt the construction of the Keystone XL oil pipeline on the US-Canada border. As Trudeau noted, "We applaud the president's determination to fulfill his commitments to combat climate change, but we are disappointed with the Keystone XL decision, although we understand the president's intention to fulfill his campaign promises." Our Analysis: Provided that the currency pair is traded above 1.2620, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2657 Take Profit 1: 1.2685 Take Profit 2: 1.2720 Alternative scenario: In case of breakdown of the level 1.2620, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2620 Take Profit 1: 1.2590 Take Profit 2: 1.2565 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indices showed weak and mixed trends in trading Thursday, but the Standard & Poor's 500 and Nasdaq Composite managed to reach new records. Investor optimism about stronger-than-expected corporate reporting is offset by signs that the labor market still can't recover. Despite a choppy start to 2021, the U.S. stock market has mostly continued to rise in recent days, with all three major indexes adding 2% or more since the beginning of the year. It is partly due to expectations of a further economic recovery under the new administration of Joe Biden, who took office as U.S. president on Wednesday. The Nasdaq Composite added 73.67 points (0.55%) to 13530.91 points. Our Analysis: Provided that the index is traded above 13140.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13431.00 Take Profit 1: 13545.00 Take Profit 2: 13680.00 Alternative scenario: In case of breakout of the level 13140.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13140.00 Take Profit 1: 13010.00 Take Profit 2: 112860.00 Learn More Fundamental Trading Analysis of Tesla  Tesla was the most admired company in 2020. At first, it looked like the admiration would continue into 2021, when the stock price hit a record high of $884 on Jan. 8.  But since then, Tesla's stock has fallen 8% in a day and is now trading nearly 4% lower. Has reality finally tempered investor appetite for Tesla? Our Analysis: While the price is above 735.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 845.00 Take Profit 1: 885.00 Take Profit 2: 950.00 Alternative scenario: If the level 735.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 735.00 Take Profit 1: 680.00 Take Profit 2: 620.00 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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