Daily Trading Analysis 03.03.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canada: Q4 GDP up 9.6% q/q: Forecast +7.3%, final Q3 data +40.3% QoQ; December figure rose 0.1% m/m vs forecast of +0.1%; Annual rate down 3.0% y/y vs. -3.0% forecast, -2.8% in November; Monthly figure rose 0.8% m/m; The preliminary figure for January +0.5%. Our Analysis: Provided that the currency pair is traded below 1.2665, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2630 Take Profit 1: 1.2600 Take Profit 2: 1.2575 Alternative scenario: In case of breakout of the level 1.2665, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2665 Take Profit 1: 1.2700 Take Profit 2: 1.2740 Learn More Trading Analysis of S&P 500 Index U.S. stock indices ended Tuesday's trading in decline after a sharp rise the day before. In particular, shares of major technology companies fell significantly. The market was supported earlier this week by a decline in US Treasuries, as well as optimism over the approval of a coronavirus vaccine produced by Johnson & Johnson (NYSE:JNJ) and the prospect of a new aid package for the U.S. economy. The yield on 10-year U.S. government bonds fell below 1.45% this week after jumping to a high for the year of 1.6% a week earlier. The Standard & Poor's 500 fell 31.53 points (0.81%) to 3,870.29. Our Analysis: Provided that the index is traded below 3914.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3885.00 Take Profit 1: 3871.00 Take Profit 2: 3853.00 Alternative scenario: In case of breakout of the level 3914.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3914.00 Take Profit 1: 3928.00 Take Profit 2: 3950.00 Learn More Fundamental Trading Analysis of Caterpillar  Shares of construction industry giant Caterpillar continue to rally. After a strong performance in 2020, the stock entered the new year as one of the best players in the Dow Jones. But Caterpillar is not trading higher because its performance is excellent. In fact, its performance last year was pretty woeful and included one of the worst quarters in the company's history. Alternatively, Caterpillar's fresh historical high is based on future performance and expectations that the business will be a great successor of the 2021 bull market, infrastructure incentives, higher oil prices, and other post-pandemic circumstances. Let's take a look at Caterpillar's performance in 2020 and the outlook for the coming years to see if the company can justify an increase in its stock price. Our Analysis: While the price is above 206.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 216.00 Take Profit 1: 232.00 Take Profit 2: 239.00 Alternative scenario: If the level 206.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 206.00 Take Profit 1: 195.00 Take Profit 2: 189.00 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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