Daily Trading Analysis 04.11.2020

Technical & Fundamental analysis

Trading Analysis of NZD/USD As Citibank analysts write in anticipation of the forthcoming meeting of the Federal Reserve on monetary policy: We do not expect any new measures or meaningful statements of intent from the Central Bank regarding future policy; The meeting will be held directly against the background of the presidential election and after a significant review of the Fed's forecasts in September. These two factors may lead to a very thorough meeting; The Central Bank may cut back purchases of MBS mortgage bonds, but such a decision may not be announced until December at the earliest; The Central Bank still "doesn't even think" about raising the rates. Our Analysis: Provided that the currency pair is traded below 0.6679, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6660 Take Profit 1: 0.6624 Take Profit 2: 0.6609 Alternative scenario: In case of breakout of the level 0.6679, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6679 Take Profit 1: 0.6704 Take Profit 2: 0.6719 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock market closed trading on Tuesday with growth due to the strengthening of industry, consumer services and finance sectors. At the time of closing on the New York Stock Exchange, Dow Jones rose by 1.93%. Our Analysis: Provided that the index is traded above 27040.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 27568.00 Take Profit 1: 27875.00 Take Profit 2: 28160.00 Alternative scenario: In case of breakdown of the level 27040.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 27040.00 Take Profit 1: 26500.00 Take Profit 2: 26145.00 Learn More Fundamental Trading Analysis of eBay It is quite logical that shareholders had every reason to anticipate outstanding third-quarter results from eBay. The online services market, more than any other, has been a major winner of the consumer and merchant transition to e-commerce, which has been significantly accelerated by the coronavirus pandemic in the first half of 2020. Our Analysis: While the price is below 51.90, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 47.63 Take Profit 1: 42.90 Take Profit 2: 40.90 Alternative scenario: If the level 51.90 is broken-out, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 51.90 Take Profit 1: 55.50 Take Profit 2: 57.60 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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