Daily Trading Analysis 20.05.2020

Technical & Fundamental analysis

Trading Analysis NZD/USD As the head of RBNZ E. Orr said in an interview with Bloomberg:  At this stage, he does not want to resort to negative interest rates. I'm ready for this step, but much later. This option remains one of the options for the RBNZ. The strategy of the Central Bank is to control the yield curve and keep it in flat at low levels. Our Analysis: Provided that the currency pair is traded above 0.6077, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6110 Take Profit 1: 0.6154 Take Profit 2: 0.6176 Alternative scenario: In case of breakdown of the level 0. 6077 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6077 Take Profit 1: 0.6041 Take Profit 2: 0.6019 Learn More Trading Analysis of EUR/JPY Japanese Machine Orders for March decreased by 0.4% monthly and by 0.7% annualized. Economists predicted a decrease of 7.1% and 9.5%. Forex traders can compare this to Japanese Machine Orders for February, which increased by 2.3% monthly, and which decreased 2.4% annualized. The Eurozone Current Account (s.a.) for March was reported at €27.4B, and the Eurozone Current Account (n.s.a) was reported at €40.7B. Forex traders can compare this to the Eurozone Current Account (s.a.) for February, which was reported at €40.2B and to the Eurozone Current Account (n.s.a.), which was reported at €33.8B. Our Analysis: Should price action for the EURJPY remain inside the or breakdown below the 117.550 to 118.200 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 117.800 Take Profit Zone: 114.400 – 115.150 Stop Loss Level: 118.700 Alternative scenario: Should price action for the EURJPY breakout above 118.200 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 118.700 Take Profit Zone: 120.300 – 121.150 Stop Loss Level: 118.200 Learn More Trading Analysis of Tesla Elon Musk has said the vehicles Tesla is selling today could become appreciating assets over time. We're starting to see a preview of what the CEO means by that. The electric-car maker said on Monday that on July 1, it is increasing the price of its full self-driving capability by $1,000, and more price increases are likely in the future. The price increase comes as Tesla continues to roll out new features for its self-driving capability, which is currently only an advanced driver-assist package. Our Analysis: Provided that the asset is traded above 758.10, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 809.00 Take Profit 1: 842.30 Take Profit 2: 867.50 Alternative scenario: In case of breakdown of the level 758.10, follow the recommendations below: The time frame: H4 Recommendation: short position Entry point: 758.10  Take Profit 1: 715.00 Take Profit 2: 673.40 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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