Daily Trading Analysis 11.08.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD EUR/USD growth has stopped, and now the pair has entered the correction phase. The dollar has several catalysts for continuing growth: Deteriorating relations between the US and China; Fiscal support; Europe is losing its advantage against the coronavirus. Our Analysis: Provided that the currency pair is traded below 1.1765, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1750 Take Profit 1: 1.1720 Take Profit 2: 1.1695 Alternative scenario: In case of breakdown of the level 1.1765, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1765 Take Profit 1: 1.1790 Take Profit 2: 1.1820 Learn More Trading Analysis of Apple As Apple approaches its $2 trillion valuations, analysts continue to raise their target stock prices. Wedbush analyst Dan Ives, who is one of the most aggressively inclined to buy shares of the company Apple (AAPL), on Monday repeated his rating best and raised its target price to 515 dollars, from the highest level on Wall Street, from 475 dollars. Our Analysis: Provided that the asset is traded above 443.40, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 451.34 Take Profit 1: 464.60 Take Profit 2: 470.60 Alternative scenario: In case of breakdown of the level 443.40, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 443.40 Take Profit 1: 433.60 Take Profit 2: 427.80 Learn More Fundamental Trading Analysis of EUR/JPY Japanese Bank Lending for July increased by 6.3% annualized. Forex traders can compare this to Japanese Bank Lending for June, which increased by 6.2% annualized. The Preliminary Japanese Current Account Balance for June was reported at ¥167.5B. Economists predicted a figure of ¥110.0B. Forex traders can compare this to the Japanese Current Account Balance for May, reported at ¥1,176.8B. Our Analysis: Should price action for the EURJPY remain inside the or breakdown below the 124.300 to 125.300 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 124.700 Take Profit Zone: 119.400 – 120.250 Stop Loss Level: 125.600 Alternative scenario: Should price action for the EURJPY breakout above 125.300 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 125.600 Take Profit Zone: 126.300 – 126.800 Stop Loss Level: 125.300 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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