Daily Trading Analysis 01.06.2020

Technical & Fundamental analysis

Trading Analysis AUD/USD The Chinese Non-Manufacturing PMI for May was reported at 53.6 and the Chinese Manufacturing PMI at 50.6. Economists predicted a figure of 42.0 and 45.0. Forex traders can compare this to the Chinese Non-Manufacturing PMI for April, which was reported at 53.2 and to the Chinese Manufacturing PMI, which was reported at 50.8. The Chinese Composite PMI for May was reported at 53.4. Forex traders can compare this to the Chinese Composite PMI for April, which was reported at 53.4. Our Analysis: Should price action for the AUD/USD remain inside the or breakdown below the 0.6700 to 0.6800 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.6765 Take Profit Zone: 0.6400 – 0.6460 Stop Loss Level: 0.6820 Alternative scenario: Should price action for the AUD/USD breakout above 0.6800 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6820 Take Profit Zone: 0.6875 – 0.6920 Stop Loss Level: 0.6765 Learn More Trading Analysis of EUR/USD During the last speech, the head of the Federal Reserve J. Powell reported: Evidence of the effects of negative interest rates looks contradictory; Definitely, negative interest rates have a number of drawbacks. Thus, they have a detrimental effect on bank profits; Communication policy and QE have ceased to be "non-traditional" monetary policy tools. Our Analysis: Provided that the currency pair is traded above 1.1100, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1133 Take Profit 1: 1.1165 Take Profit 2: 1.1185 Alternative scenario: In case of breakdown of the level 1.1100, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1100 Take Profit 1: 1.1080 Take Profit 2: 1.1065 Learn More Trading Analysis of Facebook Facebook CEO Mark Zuckerberg said he "struggled" with how to respond to the posts of President Donald Trump - both on Facebook and Instagram. Eventually, although Trump's posts were worrisome, Zuckerberg said he "strongly disagrees with the way the president talked about it," but Facebook decided not to remove them. Our Analysis: Provided that the asset is traded above 222.60, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 225.17 Take Profit 1: 231.15 Take Profit 2: 240.30 Alternative scenario: In case of breakdown of the level 222.60, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 222.60 Take Profit 1: 216.20 Take Profit 2: 209.20 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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