Daily Trading Analysis 08.07.2020

Technical & Fundamental analysis

Trading Analysis of NZD/USD Chief Economist of the New Zealand Institute of Economic Research (NZIER) said in an interview with Bloomberg that he does not expect the decline of the national economy to be very strong. Based on the activity indicators, the economy may slump by about 2% in the 2nd quarter. Our Analysis: Provided that the currency pair is traded below 0.6567 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6541 Take Profit 1: 0.6500 Take Profit 2: 0.6482 Alternative scenario: In case of breakout of the level 0.6567 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6567 Take Profit 1: 0.6597 Take Profit 2: 0.6616 Learn More Trading Analysis of Microsoft Microsoft has announced that it will permanently close its 83 Microsoft Store. The company has decided to focus on online sales. The company's press office said so. For about ten years, Microsoft has expanded its presence in retail, trying to compete with Apple: the company wanted people to try and test new Microsoft software and hardware.  Our Analysis: Provided that the asset is traded below 213.30, follow the recommendations below: The time frame: H4 Recommendation: short position Entry point: 210.67 Take Profit 1: 207.30 Take Profit 2: 205.90 Alternative scenario: In case of breakout of the level 213.30, follow the recommendations below: The timeframe: H4 Recommendation: long position Entry point: 213.30 Take Profit 1: 215.70 Take Profit 2: 217.10 Learn More Fundamental Trading Analysis of BTC/USD With Bitcoin’s average true range (ATR) hovering just above 2020 lows, trading volumes collapses by almost 50% in June. The low volatility environment is expected to compress volume further, exposing BTC/USD to volatile price action moving forward.  Our Analysis: Should price action for the BTC/USD remain inside the or breakdown below the 9,120 to 9,435 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 9,250 Take Profit Zone: 7,155 – 7,710 Stop Loss Level: 9,760 Alternative scenario: Should price action for the BTC/USD breakout above 9,435 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 9,760 Take Profit Zone: 10,300 – 10,465 Stop Loss Level: 9,435 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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