Daily Trading Analysis 06.07.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD According to the President of the St. Louis Federal Reserve Bank J. Bullard in an interview with the Financial Times (FT): The control of the yield curve is the last in the list of priorities of the Fed. We're still in the middle of a crisis. The threat of a financial crisis persists. Without an effective policy, we could get a wave of bankruptcies, which could provoke a financial crisis. It is necessary to make sure that the markets will not enter a state of complete freezing. The Committee expects [rates] to remain low, markets expect us to do the same. Our Analysis: Provided that the currency pair is traded above 1.1265, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1285 Take Profit 1: 1.1300 Take Profit 2: 1.1315 Alternative scenario: In case of breakdown of the level 1.1265, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1265 Take Profit 1: 1.1240 Take Profit 2: 1.220 Learn More Trading Analysis of Tesla Shares Tesla shareholders were advised to fire Elon Musk to avoid paying $55bn. Tesla investors are encouraged to vote for the dismissal of the company's executive director from the company's board of directors as dissatisfaction with the deal on his bonuses is accumulating, which could result in a record $55.8bn payout to the director. Our Analysis: Provided that the asset is traded above 1181.10, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 1208.00 Take Profit 1: 1216.15 Take Profit 2: 1225.50 Alternative scenario: In case of breakdown of the level 1181.10 follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 1181.10 Take Profit 1: 1137.00 Take Profit 2: 1077.50 Learn More Fundamental Trading Analysis of EUR/USD German Factory Orders for May increased by 10.4% monthly. Economists predicted an increase of 15.0%. Forex traders can compare this to German Factory Orders for April, which decreased by 26.2% monthly. Spanish Industrial Production for May decreased by 24.5% annualized. Economists predicted a decrease of 18.5%. Forex traders can compare this to Spanish Industrial Production for April, which decreased by 34.1% annualized. Our Analysis: Should price action for the EUR/USD remain inside the or breakout above the 1.1255 to 1.1310 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.1285 Take Profit Zone: 1.1495 – 1.1530 Stop Loss Level: 1.1185 Alternative scenario: Should price action for the EUR/USD breakdown below 1.1255 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.1185 Take Profit Zone: 1.1010 – 1.1070 Stop Loss Level: 1.1255 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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