Daily Trading Analysis 10.12.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF As Reuters reports with reference to knowledgeable sources, in its forthcoming regular report the U.S. Treasury will call Switzerland a currency manipulator. As sources explain, this year the SNB conducted large-scale currency interventions aimed at curbing the strengthening of the franc. It means that Switzerland now meets all three criteria for defining a "currency manipulator. The other two criteria are a commodity trade surplus of $20+ billion and a balance of payments surplus of 2+%. Our Analysis: Provided that the currency pair is traded above 0.8865, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.8892 Take Profit 1: 0.8915 Take Profit 2: 0.8930 Alternative scenario: In case of breakdown of the level 0.8865, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.8865 Take Profit 1: 0.8850 Take Profit 2: 0.8835 Learn More Trading Analysis of GOLD/USD In November, the outflow of gold from ETF (exchange-traded funds) amounted to 107.1 tons for $6.8 billion, estimated by the World Gold Council (WGC). This is the first gold outflow from the ETF in the last 12 months, also, one of the most impressive in history (an outflow of a large amount - $ 8 billion - was only in April 2013). Our Analysis: Provided that the price is below 1850.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1839.00 Take Profit 1: 1825.00 Take Profit 2: 1815.00   Alternative scenario: In case of breakout of the level 1850.00, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1850.00 Take Profit 1: 1865.00 Take Profit 2: 1875.00 Learn More Fundamental Trading Analysis of Amazon  Amazon has made a great fortune for its shareholders. Chief Executive Officer Jeff Bezos is the richest man on earth and has a fortune of about $190 billion according to the Bloomberg index. For those of us who didn't make it to Amazon's IPO, can the company still be a gold mine? Amazon continues to be a driving force in online retailing. Americans turned to a trusted e-commerce master during the pandemic, and sales grew 40% in the second quarter ending June 30 and 37% in the third quarter ending September 30. The company expects similar growth in the current fourth quarter. Our Analysis:  While the price is below 3336.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3155.00 Take Profit 1: 2909.00 Take Profit 2: 2793.00 Alternative scenario: If the level 3336.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 3336.00 Take Profit 1: 3533.00 Take Profit 2: 3651.00 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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