Daily Trading Analysis 29.06.2020

Technical & Fundamental analysis

Trading Analysis EUR/USD The Eurozone has "probably overcome" the peak of the worst economic crisis caused by the Coronavirus pandemic, European Central Bank President Christine Lagarde said on Friday, while calling on the region's authorities to prepare for a possible second wave of the disease. Our Analysis: Provided that the currency pair is traded above 1.1235, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1257 Take Profit 1: 1.1260 Take Profit 2: 1.1280 Alternative scenario: In case of breakdown of the level 1.1235, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1235 Take Profit 1: 1.1215 Take Profit 2: 1.1195 Learn More Trading Analysis of ETH/USD The median transaction fees for the Ethereum network reached a two-year peak, driven higher by demand for Tether and DeFi dApps. Over the past two weeks, transaction charges were higher than on the Bitcoin network. While the rise in interest in Ethereum, which surpassed that of Bitcoin in the options market temporarily, is positive, price action is vulnerable to more price shocks to the downside. Our Analysis: Should price action for the ETH/USD remain inside the or breakdown below the 217.00 to 234.50 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 221.00 Take Profit Zone: 152.25 – 162.00 Stop Loss Level: 248.00 Alternative scenario: Should price action for the ETH/USD breakout above 234.50 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 248.00 Take Profit Zone: 282.00 – 298.00 Stop Loss Level: 234.50 Learn More Trading Analysis of GOLD/USD The banks continued the decline that started on Thursday at the post-market after the Fed announced the results of annual stress tests and ordered the banks not to buy back their shares in the third quarter, as well as to limit dividend payments. Our Analysis: Provided that the price is above 1763.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1773.84 Take Profit 1: 1779.00 Take Profit 2: 1787.00 Alternative scenario: In case of breakdown of the level 1763.00 and the consolidation of the price above this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1763.00 Take Profit 1: 1755.00 Take Profit 2: 1747.00 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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