Daily Trading Analysis 22.02.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canada: retail sales fell 3.4% in December: Excluding cars -4.1% vs. -2.4% forecast, prev. +2.1%; Sales declined in 9 of 11 sectors; Q4 sales up 1.2% vs. Q3; Preliminary January retail sales figure down 3.3% in January; First decline after 7 consecutive months of gains; About 15% of all retailers closed in December. It appears that the figure will fall again in January amid tightening quarantine measures. The subsequent store openings, however, should be responsible for a decent increase in pent-up demand. Our Analysis: Provided that the currency pair is traded below 1.2630, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2608 Take Profit 1: 1.2575 Take Profit 2: 1.2560 Alternative scenario: In case of breakout of the level 1.2630, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2630 Take Profit 1: 1.2650 Take Profit 2: 1.2670 Learn More Trading Analysis of Dow Jones 30 Index U.S. stock indices barely changed at the close of trading Friday as investors sold technology stocks and went into cyclical securities, which are expected to be in a favorable position when the pandemic recedes. The Dow Jones Industrial Average index was unchanged at the close of trading, remaining at 31,494.32 points. Our Analysis: Provided that the index is traded above 31200.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 31494.00 Take Profit 1: 31650.00 Take Profit 2: 32000.00 Alternative scenario: In case of breakdown of the level 31200.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 31200.00 Take Profit 1: 30800.00 Take Profit 2: 30550.00 Learn More Fundamental Trading Analysis of Amazon  Pricing at about $3,300 per share makes Amazon look expensive, but you can't judge a stock by its price alone. Another way to think about buying stock is to think about how much you would have to pay to own the entire company (assuming you can do it).  Our Analysis: While the price is below 3444.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3444.00 Take Profit 1: 3083.00 Take Profit 2: 3002.00 Alternative scenario: If the level 3444.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 3444.00 Take Profit 1: 3584.00 Take Profit 2: 3667.00 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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