Daily Trading Analysis 04.09.2020

Technical & Fundamental analysis

Trading Analysis of GOLD/USD The price of gold fell to a nearly one-week low on Thursday due to the strengthening of the dollar and growing hopes for a recovery in the global economy, which increased risk appetite. Our Analysis: Provided that the price is below 1946.00 please follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1935.56 Take Profit 1: 1956.00 Take Profit 2: 1970.00   Alternative scenario: In case of breakout of the level 1946.00 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1946.00 Take Profit 1: 1956.00 Take Profit 2: 1970.00 Learn More Trading Analysis of EUR/USD The Financial Times quoted an unnamed ECB spokesman as saying that euro growth "is always worrying amid low demand," which again collapsed the single currency, which had previously been weakened by a statement by Bank Chief Economist Lane, who said the Central Bank was monitoring the euro. Our Analysis: Provided that the currency pair is traded above 1.1820, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1852 Take Profit 1: 1.1865 Take Profit 2: 1.1895 Alternative scenario: In case of breakdown of the level 1.1820, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1820 Take Profit 1: 1.1790 Take Profit 2: 1.1760 Learn More Fundamental Trading Analysis of Disney  Walt Disney made an incredible comeback. Despite a significant blow to revenues and notable declines in the last quarter, thanks to a reduction in a load of parks and closed cinemas, this media giant has soared by more than 65% compared to the March minimum. Our Analysis: While the price is above 126.70, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 133.24 Take Profit 1: 145.60 Take Profit 2: 149.70 Alternative scenario: If the level 126.70 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 126.70 Take Profit 1: 120.00 Take Profit 2: 116.00 Learn More Fundamental Trading Analysis of USD/SGD Singapore Retail Sales for July increased by 27.4% monthly and decreased by 8.5% annualized. Forex traders can compare this to Singapore Retail Sales for June, which increased by 50.7% monthly, and which decreased by 27.7% annualized. Our Analysis: Should price action for the USD/SGD remain inside the or breakdown below the 1.3620 to 1.3660 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.3635 Take Profit Zone: 1.3430 – 1.3470 Stop Loss Level: 1.3680 Alternative scenario: Should price action for the USD/SGD breakout above 1.3660 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.3680 Take Profit Zone: 1.3720 – 1.3740 Stop Loss Level: 1.3660 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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