Daily Trading Analysis 28.09.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF Excessive government measures to combat the coronavirus have dealt a heavy blow to the Swiss economy. The national GDP now awaits a slow and thorny recovery path. It is the opinion of analysts of the Swiss bank Credit Suisse. According to the credit institution, the Swiss economy will be able to fully return to the crisis level no earlier than the end of 2021. Our Analysis: Provided that the currency pair is traded above 0.9265, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9284 Take Profit 1: 0.9300 Take Profit 2: 0.9325 Alternative scenario: In case of breakdown of the level 0.9265, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9265 Take Profit 1: 0.9245 Take Profit 2: 0.9225 Learn More Trading Analysis of NZD/USD  According to UOB Group analysts, they note an increasing probability that the Central Bank of New Zealand will cut the key interest rate, but they intend to revise their forecasts only after the November meeting of the Central Bank. Our Analysis: Provided that the currency pair is traded above 0.6531, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6556 Take Profit 1: 0.6595 Take Profit 2: 0.6612 Alternative scenario: In case of breakdown of the level 0.6531, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6531 Take Profit 1: 0.6502 Take Profit 2: 0.6485 Learn More Fundamental Trading Analysis of Microsoft  Microsoft recently launched Azure Communication Services, an extension of the Azure cloud platform that allows developers to add video, voice calls, chats, and text messages to websites, applications, and mobile platforms. Instead of developing these features from scratch, developers can simply add a few lines of code from Microsoft's API (Application Programming Interface) and outsource this feature to Azure. This approach tends to be less prone to bugs, less time-consuming, and easier to scale than in-house developed communication tools. Our Analysis: While the price is below 0.6665, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6551 Take Profit 1: 0.6485 Take Profit 2: 0.6375 Alternative scenario: If the level 0.6665 is broken-out, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 0.6665 Take Profit 1: 0.6795 Take Profit 2: 0.6900 Learn More Fundamental Trading Analysis of BTC/USD Bitcoin bulls continue to focus on positive comments by analysts, one calling for the fair value of the BTC/USD at 15,000. Round numbers sound nice, but Bitcoin struggles with the 11,000 level. Two positive developments are the rising hashrate and address uses, which could be already priced at near current levels. The same two metrics are cited time and again, but generally fail to lift price action sustainably. Until a new fundamental development appears, fake breakouts could lead to more selling pressure. Weak global equity markets also keep downside pressure on the cryptocurrency market. Our Analysis: Should price action for the BTC/USD remain inside the or breakdown below the 10,770 to 10,970 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 10,860 Take Profit Zone: 8,900 – 9,240 Stop Loss Level: 11,080 Alternative scenario: Should price action for the BTC/USD breakout above 10,970 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 11,080 Take Profit Zone: 11,350 – 11,540 Stop Loss Level: 10,970 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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