Daily Trading Analysis 30.03.2020

Technical & Fundamental analysis

Trading Analysis EUR/USD The main factor of pressure on the dollar is the news about the launch of the Fed unlimited program QE. Supporting stock markets and putting pressure on the dollar is the Senate's adoption of a bill on a $2 trillion economic assistance program. Our Analysis: Provided that the currency pair is traded above 1.1140, follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 1.1080 Take Profit 1: 1.1060 Take Profit 2: 1.1020 Alternative scenario: In case of breakdown of the level 1.1140, follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 1.1140 Take Profit 1: 1.1190 Take Profit 2: 1.1235 Learn More Trading Analysis of USD/CHF The Swiss KOF Leading Indicator for March was reported at 92.9. Economists predicted a figure of 85.0. Forex traders can compare this to the Swiss KOF Leading Indicator for February, which was reported at 100.9. US Pending Home Sales for February are predicted to decrease by 2.0% monthly and to increase 6.0% annualized. Our Analysis: Should price action for the USD/CHF remain inside the or breakdown below the 0.9500 to 0.9600 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.9560 Take Profit Zone: 0.9180 – 0.9250 Stop Loss Level: 0.9655 Alternative scenario:  Should price action for the USD/CHF breakout above 0.9600 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.9655 Take Profit Zone: 0.9715 – 0.9775 Stop Loss Level: 0.9600 Learn More Trading Analysis of GBP/CAD The price above 200 MA, indicating a growing trend. The MACD histogram is above the zero lines. The oscillator Force Index is above the zero lines. Our Analysis: If the level of resistance is broken, you should follow the recommendations below: Timeframe: H4 Recommendation: Long Position Entry Level: Long Position 1.7500 Take Profit Level: 1.7600 (100 pips) Alternative scenario: If the price rebound from resistance level, you should follow the recommendations below: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position 1.7340 Take Profit Level: 1.7300 (40 pips) 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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