Daily Trading Analysis 26.05.2020

Technical & Fundamental analysis

Trading Analysis EUR/USD The beginning of the week promises to be neutral for the currency market and the main currency pair, but locally the mood is not in favor of the euro. A certain risk factor that determines the demand for a "safe" dollar is associated with the complication of relations between the U.S. and China. This will be clearly seen if China allows the approval of a bill to ban separatist and other terrorist activities in Hong Kong. The bill is expected to complicate people's rights and freedoms and ultimately lead to mass protests and unrest. Washington may intervene here, and this keeps investors in suspense. Our Analysis: Provided that the currency pair is traded above 1.0900, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.0918 Take Profit 1: 1.0930 Take Profit 2: 1.0945 Alternative scenario: In case of breakdown of the level 1.0900, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.0900 Take Profit 1: 1.0885 Take Profit 2: 1.0870 Learn More Trading Analysis of USD/SGD  The final Singapore GDP for the first quarter decreased by 4.7% quarterly and by 0.7% annualized. Economists predicted a decrease of 7.4% and 1.5% annualized. Forex traders can compare this to the previous Singapore GDP for the first quarter, which decreased by 10.6% quarterly and by 2.2% annualized. The Singapore CPI for April decreased by 0.7% annualized. Economists predicted a decrease of 0.4%. Forex traders can compare this to the Singapore CPI for March, which increased by 0.3% annualized. Singapore Industrial Production for April increased by 3.6% monthly and by 13.0% annualized. Economists predicted a decrease of 9.1% and 0.6%. Forex traders can compare this to Singapore Industrial Production for March, which increased by 21.7% monthly and by 16.5% annualized. Our Analysis: Should price action for the USD/SGD remain inside the or breakdown below the 1.4150 to 1.4250 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.4200 Take Profit Zone: 1.3745 – 1.3815 Stop Loss Level: 1.4275 Alternative scenario: Should price action for the USD/SGD breakout above 1.4250 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.4275 Take Profit Zone: 1.4430 – 1.4495 Stop Loss Level: 1.4200 Learn More Trading Analysis of GOLD/USD Gold prices fell on Monday as signs of renewed economic activity in Europe stimulated demand for risky assets and weakened interest in 'safe havens'. Our Analysis: Provided that the price is above 1725.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1733.00 Take Profit 1: 1742.00 Take Profit 2: 172.00 Alternative scenario: In case of breakdown of the level 1725.00 and the consolidation of the price above this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1725.00 Take Profit 1: 1721.00 Take Profit 2: 1715.00 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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