Daily Trading Analysis 30.06.2020

Technical & Fundamental analysis

Trading Analysis of AUD/USD Australia will open its borders to most foreign tourists no sooner than the end of 2020 due to the threat of coronavirus proliferation, Australian Broadcasting Corporation reports with reference to the country's Minister of Trade, Tourism and Investment Simon Birmingham. Our Analysis: Provided that the currency pair is traded above 0.6865 follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 0.6867 Take Profit 1: 0.6890 Take Profit 2: 0.6920 Alternative scenario: In case of breakdown of the level 0.6865, follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 0.6865 Take Profit 1: 0.6850 Take Profit 2: 0.6840 Learn More Trading Analysis of Disney Disney's (DIS) plans for a gradual return to normal life were destroyed as the second wave of the coronavirus made it clear that the virus was not yet about to leave. The company delayed the opening of Disneyland in California, which was originally scheduled for July 17. Walt Disney World in Florida planned to open on July 11, but it is also extremely unlikely, given the number of new COVID-19 cases in the state. The theme parks aren't Disney's only problem. There's also no set date to resume film production. Moreover, the long-awaited release of the blockbuster "Mulan" in summer 2020 was again postponed from July 24 to August 21. Our Analysis: Provided that the asset is traded above 109.60, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 111.23 Take Profit 1: 130.00 Take Profit 2: 135.24 Alternative scenario: In case of breakdown of the level 109.60, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 109.60 Take Profit 1: 100.00 Take Profit 2: 94.00 Learn More Fundamental  Analysis of GBP/USD The final UK GDP for the first quarter decreased by 2.2% quarterly and by 1.7% annualized. Economists predicted a decrease of 2.0% quarterly and 1.6% annualized. Forex traders can compare this to the previous UK GDP for the first quarter, reported flat at 0.0% quarterly, and which increased by 1.1% annualized.  Our Analysis: Should price action for the GBP/USD remain inside the or breakout above the 1.2260 to 1.2315 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.2290 Take Profit Zone: 1.2730 – 1.2815 Stop Loss Level: 1.2200 Alternative scenario: Should price action for the GBP/USD breakdown below 1.2260 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.2200 Take Profit Zone: 1.2000 – 1.2075 Stop Loss Level: 1.2260 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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