Daily Trading Analysis 03.07.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF The USD/CHF currency pair is traded at 0.9440 and continues its movement within the decline framework and start of the "Triangle" pattern. The pair is traded below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates a bearish trend for the pair. The correction and lower boundary test of Ichimoku Kinko Hyo indicator cloud near the level of 0.9490 are expected to develop. Where to expect the attempt of bounce and continuation of the pair's falling with a potential target near the level of 0.9325 as part of the reversal model practice. Our Analysis: Provided that the currency pair is traded above 0.9440, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9458 Take Profit 1: 0.9480 Take Profit 2: 0.9490 Alternative scenario: In case of breakdown of the level 0.9440, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9440 Take Profit 1: 0.9510 Take Profit 2: 0.9525 Learn More Trading Analysis of USD/JPY Japanese government secretary general Yoshihide Suga gave up the idea of re-introducing the emergency regime despite the growing number of new cases of coronavirus in the capital.  There is no need to reintroduce the emergency regime. There has been an increase in the number of cases among young people, but the number of serious cases is decreasing. On Thursday in Tokyo 107 new patients were registered - the maximum since May 25, when Japan left the emergency mode. In addition, for the first time since 2 May, more than 100 new infections have been reported in the capital. Our Analysis: Provided that the currency pair is traded below 107.65, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 107.49 Take Profit 1: 107.30 Take Profit 2: 107.15 Alternative scenario: In case of breakout of the level 107.65, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 107.65 Take Profit 1: 107.80 Take Profit 2: 107.90 Learn More Fundamental Trading Analysis of GOLD/USD Global Covid-19 cases continue to rise, led by daily records in the US, on track to exceed 60,000 infections per day. Healthcare experts believe the country is headed towards more than 100,000 daily cases over the next few weeks. The global economic fallout keeps safe-haven demand elevated. Central banks continue to expand quantitative easing measures, keep interest rates at record lows, and governments issue more debt to stimulate the economy. Our Analysis: Should price action for Gold remain inside the or breakout above the 1,746.00 to 1,789.15 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1,775.00 Take Profit Zone: 1,877.35 – 1,920.55 Stop Loss Level: 1,725.00 Alternative scenario: Should price action for Gold breakdown below 1,746.00 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1,725.00 Take Profit Zone: 1,670.60 – 1,692.15 Stop Loss Level: 1,746.00 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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