Daily Trading Analysis 17.12.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY FOMC statement: bond purchases will continue until "substantial" progress on targets: No change in the weighted average maturity of the portfolio; Rates left unchanged at 0.00%-0.25%; Seeking to use the full range of tools to support the U.S. economy;  Continue to buy $80 billion in Treasuries per month and $40 billion in MBS; Continue to buy bonds "until substantial progress is made toward the Committee's maximum employment and price stability goals." The dot chart for the end of 2023 remains at zero. Our Analysis: Provided that the currency pair is traded below 103.65, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 103.36 Take Profit 1: 103.20 Take Profit 2: 103.00 Alternative scenario: In case of breakout of the level 103.65, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 103.65 Take Profit 1: 103.90 Take Profit 2: 104.15 Learn More Trading Analysis of S&P 500 Index U.S. stock indices showed no single pattern in Wednesday's trading after the conclusion of a two-day meeting of the U.S. Federal Reserve. The Dow Jones index declined, while the S&P 500 and Nasdaq rose. The Standard & Poor's 500 rose 6.55 points (0.18%) to 3,701.17 points. Our Analysis: Provided that the index is traded above 3678.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3701.00 Take Profit 1: 3712.00 Take Profit 2: 3740.00 Alternative scenario: In case of breakdown of the level 3678.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3678.00 Take Profit 1: 3660.00 Take Profit 2: 3633.00 Learn More Fundamental Trading Analysis of Coca-Cola The pandemic is undoubtedly disrupting the Coca-Cola Company. Local governments have ordered many restaurants and entertainment venues to either close their doors completely or operate at a much lower capacity. It hurts sales because these are places where people consume a lot of Coca-Cola drinks.  Our Analysis: While the price is above 51.30, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 53.00 Take Profit 1: 56.40 Take Profit 2: 57.60 Alternative scenario: If the level 51.30 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 51.30 Take Profit 1: 49.20 Take Profit 2: 47.90 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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