Daily Trading Analysis 31.12.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD German Central Bank governor and ECB Governing Council member J. Weidmann said in an interview for a German newspaper Weidmann: We expect Germany's debt burden during the pandemic to be lower than it was during the 2008 financial crisis; Does not think that the second wave of the coronavirus will cause more damage than the first wave; Emergency fiscal support measures taken by the German government should be withdrawn immediately after the end of the coronavirus crisis; Governments should not expect central banks to keep interest rates low forever; Price pressures in the eurozone may remain weak in the coming years; It may take time to change course in rate polling; Governments must be prepared to raise rates; The outlook for the economy will depend on how the coronavirus situation develops after lockdowns are lifted. Our Analysis: Provided that the currency pair is traded above 1.2275, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2293 Take Profit 1: 1.2320 Take Profit 2: 1.2340 Alternative scenario: In case of breakdown of the level 1.2275, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2275 Take Profit 1: 1.2255 Take Profit 2: 1.2235 Learn More Trading Analysis of Nasdaq 100 Index Major U.S. stock market indexes rose on Wednesday amid renewed optimism about the coronavirus vaccine. The U.K. Medicines Control Agency (MHRA) on Wednesday approved a coronavirus vaccine, COVID-19, developed by Anglo-Swedish company AstraZeneca, the company said in a statement. "AstraZeneca's COVID-19 vaccine has been approved for emergency use in the United Kingdom, the first doses will be released today, and vaccination could begin early in the new year," the company said in a statement posted on its website. The statement said the vaccine is intended for those over 18. The Nasdaq gained 19.78 points (0.15%) to 1,870 points. Our Analysis: Provided that the index is traded below 12925.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 12851.00 Take Profit 1: 12745.00 Take Profit 2: 12650.00 Alternative scenario: In case of breakout of the level 12925.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 12925.00 Take Profit 1: 13005.00 Take Profit 2: 13100.00 Learn More Fundamental Trading Analysis of Amazon  Amazon stock has jumped 78% this year because e-commerce has picked up due to the pandemic. However, vaccines are starting to spread, and there is hope that the pandemic will end soon. Although it will likely cause a slowdown in online retail sales, Amazon's growth story is far from over. Our Analysis: While the price is above 3100.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 3283.00 Take Profit 1: 3420.00 Take Profit 2: 3479.00 Alternative scenario: If the level 3100.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3100.00 Take Profit 1: 3005.00 Take Profit 2: 2947.00 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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