Daily Trading Analysis 04.12.2020

Trading Analysis of GBP/USD

Reuters reports comments from an EU diplomat who said that disagreements remain on the same issues in negotiations with Britain, including equal conditions and fisheries:
The issue of equal conditions has not been resolved;
Britain has not yet put forward adequate proposals on the issue of state aid;
Disagreements remain on fisheries issues;
It cannot be said that there are hours left before the deal is concluded; we still need to agree on important issues;
If some issues remain unresolved, there will be no deal.


Our Analysis:

Provided that the currency pair is traded above 1.3420, follow the recommendations below:
  • Time frame: 30 min
  • Recommendation: long position
  • Entry point: 1.3451
  • Take Profit 1: 1.3500
  • Take Profit 2: 1.3530

Alternative scenario:

In case of breakdown of the level 1.3420, follow the recommendations below:
  • Time frame: 30 min
  • Recommendation: short position
  • Entry point: 1.3420
  • Take Profit 1: 1.3395
  • Take Profit 2: 1.3370

Trading Analysis of GOLD/USD

Gold prices are rising on Thursday amid a decline in the dollar, driven by hopes for a speedy introduction of coronavirus vaccines and cautious optimism among investors about budget incentives in the U.S.
consecutive day.


Our Analysis:

Provided that the price is above 1829.00, follow these recommendations:
  • Time frame: 30 min
  • Recommendation: long position
  • Entry point: 1840.00
  • Take Profit 1: 1851.00
  • Take Profit 2: 1861.00  

Alternative scenario:

In case of breakdown of the level 1829.00, follow the recommendations below:
  • Time frame: 30 min
  • Recommendation: short position
  • Entry point: 1829.00
  • Take Profit 1: 1817.00
  • Take Profit 2: 1807.00

Fundamental Trading
Analysis of Apple 

As Apple begins to sell 5G devices and increases its volume in anticipation of the holiday season, investors have every reason to be optimistic. With the shift in workload caused by COVID-19, demand for Apple devices has grown on many fronts.



Our Analysis:

While the price is above 112.50, follow the recommendations below:
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 122.72
  • Take Profit 1: 125.50
  • Take Profit 2: 138.00

Alternative scenario:

If the level 112.50 is broken-down, follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 112.50
  • Take Profit 1: 108.00
  • Take Profit 2: 103.00

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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