Daily Trading Analysis 28.10.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY The Bank of Japan will revise its economic and inflation forecasts, which will be presented in the quarterly report of the Central Bank. As one source commented, forecasts for the next fiscal year will be weaker than three months ago. The main driver of such revision is the economy subsidence in April-June, which exceeded the forecasts, and low consumption in the summer period Our Analysis: Provided that the currency pair is traded below 104.55, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 104.28 Take Profit 1: 104.10 Take Profit 2: 103.85 Alternative scenario: In case of breakout of the level 104.55, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 104.55 Take Profit 1: 104.70 Take Profit 2: 104.85 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock indices did not show a single trend at the end of trading on Tuesday after a sell-off in the U.S. stock market the day before. The fall of the Dow Jones on Monday was the highest since the beginning of September - 2.29%. Data on new cases of coronavirus infection in the USA continue to exert pressure on the market. As of Monday, the average number of new infections in the U.S. over the past seven days was a record of 69.97 thousand per day, reports CNBC, citing data from Johns Hopkins University. Our Analysis: Provided that the index is traded below 27870.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 27480.00 Take Profit 1: 27080.00 Take Profit 2: 26700.00 Alternative scenario: In case of breakout of the level 27870.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 27870.00 Take Profit 1: 28120.00 Take Profit 2: 28560.00 Learn More Fundamental Trading Analysis of ExxonMobil The American energy giant ExxonMobil is going through a difficult time, with its shares falling by about 50% in 2020. It's certainly not the only international oil tycoon facing difficulties, but investors need to step back and consider several key factors before deciding to buy these shares. The third-quarter earnings report will be released on Friday, October 30. Here is a brief overview of some of the vital factors that need to be taken into account. Our Analysis: While the price is above 31.50, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 34.86 Take Profit 1: 38.50 Take Profit 2: 39.70 Alternative scenario: If the level 31.50 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 31.50 Take Profit 1: 29.70 Take Profit 2: 28.50 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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