Daily Trading Analysis 29.07.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF Swiss pharmaceutical giant Roche has agreed to supply the EU with medicines for experimental treatment of coronavirus. The company, headquartered in Basel, has already signed a corresponding agreement with the European Commission. Our Analysis: Provided that the currency pair is traded below 0.9190, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9175 Take Profit 1: 0.9160 Take Profit 2: 0.9150 Alternative scenario: In case of breakout of the level 0.9190, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9190 Take Profit 1: 0.9210 Take Profit 2: 0.9230 Learn More Trading Analysis of GOLD/USD Gold fell in price on Tuesday, moving away from its all-time high as the dollar recovered, while silver fell by more than 9% in the trading, and investors switched their attention to the Fed meeting. Our Analysis: Provided that the price is above 1945.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1952.00 Take Profit 1: 1966.00 Take Profit 2: 1981.00 Alternative scenario: In case of breakdown of the level 1945.00 and the consolidation of the price below this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1945.00 Take Profit 1: 1934.00 Take Profit 2: 1923.00 Learn More Fundamental Trading Analysis of GBP/ZAR The UK BRC Shop Price Index for July decreased by 1.3% annualized. Forex traders can compare this to the UK BRC Shop Price Index for June, which decreased by 1.6% annualized. South African M3 Money Supply for June increased by 11.07% annualized. Forex traders can compare this to South African M3 Money Supply for May, which increased by 10.6% annualized. Our Analysis: Should price action for the GBP/ZAR remain inside the or breakout above the 21.1770 to 21.4285 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 21.2700 Take Profit Zone: 22.2100 – 22.3910 Stop Loss Level: 21.0225 Alternative scenario: Should price action for the GBP/ZAR breakdown below 21.1770 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 21.0225 Take Profit Zone: 20.6165 – 20.7535 Stop Loss Level: 21.1770 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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