Daily Trading Analysis 30.07.2020

Technical & Fundamental analysis

Trading Analysis of AUD/USD Yesterday evening, during an accompanying press conference on the results of the FOMC meeting on monetary policy, the Head of the Fed Fed J. Powell said: Household spending is recovering thanks to timely support for fiscal policy; Household expenses recouped about half the fall; There was strong employment growth in May/June; The contraction of the economy at the end of Q2 will be the largest in history. Our Analysis: Provided that the currency pair is traded above 0.7150 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7179 Take Profit 1: 0.7195 Take Profit 2: 0.7220 Alternative scenario: In case of breakdown of the level 0.7150, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7150 Take Profit 1: 0.7125 Take Profit 2: 0.7110 Learn More Trading Analysis of Facebook On Wednesday, July 29, a meeting of the Legal Subcommittee on Antimonopoly Policy of the US Congress was held in Washington. For more than a year now, Congress has been investigating major technology giants such as Facebook, Google, Amazon, and Apple as to whether they abused their dominant position in the market. "Any move by one of these companies can have a profound and lasting impact on hundreds of millions of people," said subcommittee chairman David Sisilin (Democratic Party) opening the meeting, which lasted about six hours. Our Analysis: Provided that the asset is traded above 229.60, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 233.02 Take Profit 1: 236.20 Take Profit 2: 237.60 Alternative scenario: In case of breakdown of the level 229.60, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 229.60 Take Profit 1: 227.20 Take Profit 2: 225.80 Learn More Fundamental Trading Analysis of USD/SGD Singapore Bank Lending for June was reported at S$680.4 billion. Forex traders can compare this to Singapore Bank Lending for May, reported at S$685.3 billion. Singapore Business Confidence for the second quarter was reported at -7.00. Forex traders can compare this to Singapore Business Confidence for the first quarter, reported at -56.00. Our Analysis: Should price action for the USD/SGD remain inside the or breakdown below the 1.3715 to 1.3810 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.3755 Take Profit Zone: 1.3485 – 1.3560 Stop Loss Level: 1.3850 Alternative scenario: Should price action for the USD/SGD breakout above 1.3810 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.3850 Take Profit Zone: 1.3980– 1.4025 Stop Loss Level: 1.3810 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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