Daily Trading Analysis 09.06.2020

Technical & Fundamental analysis

Trading Analysis GBP/USD Chief Economist of the Bank of England Haldane said that economic activity in Britain has declined sharply and, besides, there is an unprecedented low activity in the labor market.  Our Analysis: Provided that the currency pair is traded above 1.2675, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2688 Take Profit 1: 1.2755 Take Profit 2: 1.2785 Alternative scenario: In case of breakdown of the level 1.2675, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2675 Take Profit 1: 1.2645 Take Profit 2: 1.2615 Learn More Trading Analysis of Tesla In May of this year, sales of Tesla electric cars in China reached a record level. Tesla is steadily increasing sales of its electric vehicles in the Chinese market. According to available data, in May this year, Tesla sold 11,095 electric vehicles in the Celestial Empire, which is the company's highest sales figure in the world's largest automotive market. According to the China Passenger Car Association (CPCA), in April Tesla sold only 3,635 electric vehicles in the country. Thus, compared to April, the sales level in May jumped more than three times. Our Analysis: Provided that the asset is traded above 908.50, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 948.50 Take Profit 1: 971.20 Take Profit 2: 997.00 Alternative scenario: In case of breakdown of the level 908.50, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 908.50 Take Profit 1: 868.30 Take Profit 2: 853.50 Learn More Trading Analysis of AUD/CHF Australian ANZ Job Advertisements for May increased by 0.5% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for April, which decreased by 53.4% monthly. Australian NAB Business Conditions for May were reported at -24, and Australian NAB Business Confidence at -20. Forex traders can compare this to NAB Business Conditions for April, which were reported at -34 and to Australian NAB Business Confidence, which was reported at -46. Our Analysis: Should price action for the AUD/CHF remain inside the or breakdown below the 0.6555 to 0.6660 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.6600 Take Profit Zone: 0.6130 – 0.6195 Stop Loss Level: 0.6700 Alternative scenario: Should price action for the AUD/CHF breakout above 0.6660 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6700 Take Profit Zone: 0.6800 – 0.6865 Stop Loss Level: 0.6660 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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