Daily Trading Analysis 01.04.2020

Technical & Fundamental analysis

Trading Analysis EUR/USD The US dollar survived the best quarter since 2016, taking advantage of demand as a reserve currency amid the coronavirus epidemic. Although EUR/USD has already retreated from its lows 2 weeks ago, it may continue to grow amid a portfolio correction at the end of the month. Our Analysis: Provided that the currency pair is traded above 1.0995, follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 1.1010 Take Profit 1: 1.1055 Take Profit 2: 1.1105 Alternative scenario: In case of breakdown of the level 1.0995, follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 1.0995 Take Profit 1: 1.0965 Take Profit 2: 1.925 Learn More Trading Analysis of USD / TRY 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 6.6500 Take Profit Level: 6.8000 (1500 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 6.5400 Take Profit Level: 6.5000 (400 pips) Learn More Trading Analysis of AUD/JPY  The Australian AiG Performance of Manufacturing Index for March was reported at 53.7. Forex traders can compare this to the Australian AiG Performance of Manufacturing Index for February, which was reported at 44.3. The Final Australian CBA Manufacturing PMI for March was reported at 49.7.  Our Analysis: Should price action for the AUD/JPY remain inside the or breakout above the 64.900 to 66.400 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 65.35 Take Profit Zone: 74.300– 75.400 Stop Loss Level: 63.800 Alternative scenario: Should price action for the AUD/JPY breakdown below 64.900 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 63.800 Take Profit Zone: 59.900 – 61.700 Stop Loss Level: 64.900 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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