Daily Trading Analysis 22.05.2020

Technical & Fundamental analysis

Trading Analysis AUD/NZD Authorities in Australia and New Zealand plan to open up borders for tourist exchanges. Both countries are proud of their low Coronavirus infection rates and COVID-19 mortality rate. And now Canberra and Wellington are exploring the possibility of creating a tourist corridor, which is already called Trans Tasmania. As Reuters reports, it should open in August. Our Analysis: Provided that the currency pair is traded below 1.0760, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.0730 Take Profit 1: 1.0690 Take Profit 2: 1.0670 Alternative scenario: In case of breakout of the level 1.0760, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.0760 Take Profit 1: 1.0790 Take Profit 2: 1.810 Learn More Trading Analysis of GBP/JPY The Japanese National CPI for April decreased by 0.2% monthly and increased by 0.1% annualized. Forex traders can compare this to the Japanese National CPI for March, which was reported flat at 0.0% monthly, and which increased by 0.4% annualized. The Japanese National Core CPI for February decreased by 0.2% annualized. Economists predicted a decrease of 0.1%. Forex traders can compare this to the Japanese National Core CPI for March, which increased by 0.4% annualized. The Bank of Japan decided to keep interest rates at -0.10%. Forex traders can compare this to the previous Bank of Japan interest rate decision where interest rates were left unchanged at -0.10%. Our Analysis: Should price action for the GBP/JPY remain inside the or breakdown below the 130.150 to 131.100 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 130.750 Take Profit Zone: 127.100 – 128.350 Stop Loss Level: 131.500 Alternative scenario: Should price action for the GBP/JPY breakout above 131.100 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 131.500 Take Profit Zone: 133.150 – 134.000 Stop Loss Level: 131.100 Learn More Trading Analysis of Disney Some theme parks are finally taking steps to open up and this can bring much-needed support to Disney's collapsed stock. On Wednesday it was reported that Walt Disney and its subsidiaries Comcast Universal Studios and SeaWorld Entertainment will start presenting their plans to open their theme parks in Orlando on Thursday. It is said that Universal will announce its plans to open on Thursday and the rest later. Our Analysis: Provided that the asset is traded above 117.70, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 119.92 Take Profit 1: 123.29 Take Profit 2: 124.97 Alternative scenario: In case of breakdown of the level 117.70, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 117.70 Take Profit 1: 114.87 Take Profit 2: 113.18 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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