Daily Trading Analysis 28.05.2020

Technical & Fundamental analysis

Trading Analysis USD/ZAR The South African PPI for March is predicted to increase by 0.3% monthly and by 3.4% annualized. Forex traders can compare this to the South African PPI for February, which increased by 0.3% monthly and by 4.5% annualized. US Initial Jobless Claims for the week of May 23rd are predicted at 2,100K, and US Continuing Claims for the week of May 16th are predicted at 25,750K. Forex traders can compare this to US Initial Jobless Claims for the week of May 16th, which were reported at 2,438K and to US Continuing Claims for the week of May 9th, which were reported at 25,073K. US Preliminary Durable Goods Orders for April are predicted to decrease by 19.0% monthly, and Durables Excluding Transportation are predicted to decrease by 14.0% monthly. Forex traders can compare this to US Durable Goods Orders for March, which decreased by 15.3% monthly and to Durables Excluding Transportation, which decreased by 0.6% monthly. Our Analysis: Should price action for the USD/ZAR remain inside the or breakdown below the 17.0000 to 17.5200 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 17.3700 Take Profit Zone: 15.2000 – 15.6200 Stop Loss Level: 17.7200 Alternative scenario: Should price action for the USD/ZAR breakout above 17.5200 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 17.7200 Take Profit Zone: 18.1650 – 18.2500 Stop Loss Level: 17.5200 Learn More Trading Analysis of USD/JPY According to the White House spokesman, President D. Trump intends to sign a presidential decree aimed at social media platforms. The decree is to be signed today. Earlier Trump decided to declare war on social networks after Twitter first marked one of his posts as unreliable. In response, the president accused the company of violating freedom of speech and discriminating against conservatives, and promised to tighten regulation of social networks up to their ban. Our Analysis: Provided that the currency pair is traded below 107.65, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 107.77 Take Profit 1: 107.95 Take Profit 2: 108.15 Alternative scenario: In case of breakdown of the level 107.65, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 107.65 Take Profit 1: 107.45 Take Profit 2: 107.35 Learn More Trading Analysis of Google On Wednesday, Arizona filed a consumer fraud suit against Google Alphabet Inc, claiming that the U.S. technical giant used "deceptive" and "dishonest" methods to obtain data on the location of users. "Google collects detailed information about its users, including their physical location, to target users for advertising. This is often done without users' consent or knowledge," Attorney General Mark Brnovich said on Wednesday's Twitter. Our Analysis: Provided that the asset is traded above 1409.50, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 1421.93 Take Profit 1: 1443.00 Take Profit 2: 1452.00 Alternative scenario: In case of breakdown of the level 1409.50, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 1409.50 Take Profit 1: 1394.75 Take Profit 2: 1386.50 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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