Daily Trading Analysis 29.10.2020

Technical & Fundamental analysis

Trading Analysis of USD/CAD During the last day in Canada, the number of people affected by coronavirus has increased by 2 thousand 788 and reached 209 148. It was reported in the Ministry of Health of the country. The previous anti record for morbidity was set on October 9. Then specialists recorded 2 thousand 558 cases of virus SARS-CoV-2 infection Our Analysis: Provided that the currency pair is traded below 1.3325, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3180 Take Profit 1: 1.3215 Take Profit 2: 1.3235 Alternative scenario: In case of breakout of the level 1.3325, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3325 Take Profit 1: 1.3145 Take Profit 2: 1.3120 Learn More Trading Analysis of GOLD/USD The price of gold fell on Wednesday due to the strengthening of the dollar. At the same time, uncertainty before the presidential elections in the U.S. and concerns about the growth of coronavirus infection in the world are holding back the downtrend. Our Analysis: Provided that the price is below 1885.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1880.43 Take Profit 1: 1869.00 Take Profit 2: 1864.00   Alternative scenario: In case of breakout of the level 1885.00, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1885.00 Take Profit 1: 1891.00 Take Profit 2: 1899.00 Learn More Fundamental Trading Analysis of Home Depot The pandemic forced many companies to send their employees to work remotely. Millions of employees who were used to appearing in their offices every day had to make significant adjustments to their work. Our Analysis: While the price is below 287.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 276.84 Take Profit 1: 265.40 Take Profit 2: 260.10 Alternative scenario: If the level 287.00 is broken-out, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 287.00 Take Profit 1: 296.00 Take Profit 2: 301.30 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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