Trading Analysis of S&P 500
| | The U.S. stock market closed trading on Tuesday with growth due to strengthening the sectors of raw materials, technology, and consumer services. The S&P 500 index rose 0.75%. The index's growth leaders were L Brands Inc (NYSE: LB), which rose 7.28 percent to 31.54, Albemarle Corp (NYSE: ALB), which gained 7.01 percent, closing at 97.39, and Walmart Inc (NYSE: WMT), which rose 6.29 percent, ending the session at 147.59.
Our Analysis:
Provided that the currency pair is traded below 12270.00, follow the recommendations below: - Time frame: 30 min
- Recommendation: short position
- Entry point: 12110.00
- Take Profit 1: 12000.00
- Take Profit 2: 11840.00
Alternative scenario:
In case of breakout of the level 3495.00, follow the recommendations below: - Time frame: 30 min
- Recommendation: long position
- Entry point: 3495.00
- Take Profit 1: 3465.00
- Take Profit 2: 3445.00
| | Trading Analysis of GBP/USD
| | British Prime Minister Boris Johnson's spokesman confirmed on Tuesday that there is no way to extend the transition period beyond Brexit. "Britain would like to settle simpler issues in the negotiations first to give impetus to the deal," the spokesman added, noting they are optimistic about a trade agreement with Japan.
Our Analysis:
Provided that the currency pair is traded below 1.3410, follow the recommendations below: - Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3382
- Take Profit 1: 1.3355
- Take Profit 2: 1.3330
Alternative scenario:
In case of breakout of the level 1.3410 follow the recommendations below: - Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3410
- Take Profit 1: 1.3450
- Take Profit 2: 1.3480
| | Fundamental Trading Analysis of eBay
| | The coronavirus pandemic has dealt a heavy blow to the economy, causing significant damage to some industries while stimulating others. eBay, an e-commerce company, joined the last camp. The company managed to make money in the second quarter, thanks to increased consumer participation in e-commerce due to quarantine restrictions and self-isolation.
Our Analysis:
While the price is below 58.50, follow the recommendations below: - Time frame: D1
- Recommendation: long position
- Entry point: 54.27
- Take Profit 1: 50.90
- Take Profit 2: 49.20
Alternative scenario:
If the level 58.50 is broken-out, follow the recommendations below. - Time frame: D1
- Recommendation: long position
- Entry point: 58.50
- Take Profit 1: 61.30
- Take Profit 2: 62.90
| | Fundamental Trading Analysis of AUD/USD
| | The Australian GDP for the second quarter decreased by 7.0% quarterly and by 6.3% annualized. Economists predicted a decrease of 6.0% and 5.3% annualized. Forex traders can compare this to the Australian GDP for the first quarter, which decreased by 0.3% quarterly, and which increased by 1.6% annualized. Capital Expenditure for the second quarter decreased by 4.9% quarterly, the Chain Price Index decreased by 0.2% quarterly, and Final Consumption decreased by 8.1% quarterly. Forex traders can compare this to Capital Expenditure for the first quarter, which decreased by 0.8% quarterly, to the Chain Price Index, which increased by 1.1% quarterly, and to Final Consumption, which decreased by 0.3% quarterly.
Our Analysis:
Should price action for the AUD/USD remain inside the or breakdown below the 0.7340 to 0.7400 zone the following trade set-up is recommended: - Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7365
- Take Profit Zone: 0.7075 – 0.7135
- Stop Loss Level: 0.7455
Alternative scenario:
Should price action for the AUD/USD breakout above 0.7400 the following trade set-up is recommended: - Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7455
- Take Profit Zone: 0.7530 – 0.7580
- Stop Loss Level: 0.7400
| | 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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