Daily Trading Analysis 27.04.2020

Technical & Fundamental analysis

Trading Analysis USD/CAD US Dollar to Canadian Dollar currency pair closed the trading week near the level of 1.4101. The quotes continue moving within the correction and upward channel. Our Analysis: Provided that the currency pair is traded below 1.4115, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.4065 Take Profit 1: 1.4035 Take Profit 2: 1.4000 Alternative scenario: In case of breakout of the level 1. 4115, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1. 4115 Take Profit 1: 1.4150 Take Profit 2: 1.4180 Learn More Trading Analysis of GOLD/USD The price of gold rose slightly on Friday due to concerns about a global recession caused by the coronavirus, despite the fact that central banks continue to introduce stimulus measures. Our Analysis: Provided that the asset is traded above 181.80, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 185.17 Take Profit 1: 190.40 Take Profit 2: 192.60 Alternative scenario: In case of breakdown of the level 181.80, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 181.80 Take Profit 1: 178.20 Take Profit 2: 176.00 Learn More Trading Analysis of BTC/USD Bitcoin may extend its advance after it completed a breakout above its Senkou Span A and Span B. Price action advanced into extreme overbought levels but the May having-event is attracting investors and traders alike. The previous two resulted in new all-time highs, and many long-term hodlers anticipate next month’s having to repeat the pattern. With a change in fundamental conditions, assuming a new all-time in 2020 represents a dangerous gamble. Our Analysis: Should price action for the BTC/USD remain inside the or breakout above the $7,540 to $7,760 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ $7,630 Take Profit Zone: $9,620 – $9,950 Stop Loss Level: $7,130 Alternative scenario:  Should price action for the BTC/USD breakdown below $7,540 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ $7,130 Take Profit Zone: $3,870 – $,4380 Stop Loss Level: $7,540 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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