Daily Trading Analysis 03.06.2020

Technical & Fundamental analysis

Trading Analysis USD/CHF The Swiss GDP for the first quarter decreased by 2.6% quarterly and by 1.3% annualized. Economists predicted a decrease of 2.0 % and 0.9%. Forex traders can compare this to the Swiss GDP for the fourth quarter, which increased by 0.3% quarterly and by 1.6% annualized. Our Analysis: Should price action for the USD/CHF remain inside the or breakdown below the 0.9575 to 0.9655 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.9610 Take Profit Zone: 0.9390 – 0.9455 Stop Loss Level: 0.9690 Alternative scenario: Should price action for the USD/CHF breakout above 0.9655 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.9690 Take Profit Zone: 0.9760 – 0.9800 Stop Loss Level: 0.9655 Learn More Trading Analysis of Disney This week Disney announced that it plans to start opening its four theme parks in phases starting July 11. When Walt Disney World restarts, guests can expect many changes in park visits, from the need to wear facial masks and undergo temperature screening to refusing meetings and parades. Our Analysis: Provided that the asset is traded above 113.15, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 118.35 Take Profit 1: 119.30 Take Profit 2: 123.20 Alternative scenario: In case of breakdown of the level 113.15, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 113.15 Take Profit 1: 109.05 Take Profit 2: 106.20 Learn More Trading Analysis of USD/CHF Switzerland is gradually coming out of quarantine; more than two-thirds of the restaurants, bars, pubs, and other catering establishments have reopened since 11 May, so it is possible to sum up the first results, which are not very comforting yet. Many of these catering establishments are now struggling to survive under partial quarantine restrictions that are still in place. Approximately nine out of ten restaurants that have reopened are expecting to experience losses. During the first week of the initial quarantine process, sales in the gastronomy industry were on average 60% lower than during the same period last year in 2019. Our Analysis: Provided that the currency pair is traded below 0.9630, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9712 Take Profit 1: 0.9590 Take Profit 2: 0.9570 Alternative scenario: In case of breakout of the level 0.9630, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9630 Take Profit 1: 0.9650 Take Profit 2: 0.9670 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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