Daily Trading Analysis 04.03.2021

Technical & Fundamental analysis

Trading Analysis of NZD/USD As stated by the Deputy Governor of the Central Bank of New Zealand, C. Hawkesby: If necessary, the Central Bank may lower the rate and increase the volume of weekly bond purchases; The RBNZ is determined to stick to its stimulative policy; The economic recovery in New Zealand is fragile and uneven; the outlook is rather subdued; The most effective tool for the real estate market is macroprudential policy. Our Analysis: Provided that the currency pair is traded above 0.7209, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7238 Take Profit 1: 0.7285 Take Profit 2: 0.7303 Alternative scenario: In case of breakdown of the level 0.7209, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7209 Take Profit 1: 0.7178 Take Profit 2: 0.7159 Learn More Trading Analysis of Dow Jones 30 Index In yesterday's trading, the U.S. stock indices fell amid rising U.S. Treasury bond yields. The yield on ten-year US Treasuries rose to 1.49%, CNBC said. Rising government bond yields are raising concerns about stock prices and accelerating inflation. High yields could particularly affect stocks of technology companies that rely more on borrowing. The Dow Jones Industrial Average index was down 121.43 points (0.39%) at 31270.09. Our Analysis: Provided that the index is traded above 30930.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 31170.00 Take Profit 1: 31725.00 Take Profit 2: 32070.00 Alternative scenario: In case of breakdown of the level 30930.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 30930.00 Take Profit 1: 30760.00 Take Profit 2: 30525.00 Learn More Fundamental Trading Analysis of Johnson & Johnson As it became known, Johnson & Johnson's COVID-19 vaccine was recently approved for emergency use in the U.S. in late February, which helped the stock move higher. That news on March 1 retained JNJ in the buy zone. Several days earlier, an advisory committee unanimously approved the vaccine for use. The Food and Drug Administration then formally approved the vaccine. The next day, another advisory panel to the Centers for Disease Control and Prevention approved the vaccine. Deliveries began a day later, March 1. Our Analysis: While the price is below 165.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 159.00 Take Profit 1: 153.00 Take Profit 2: 149.00 Alternative scenario: If the level 165.00 is broken-out, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 165.00 Take Profit 1: 171.00 Take Profit 2: 174.00 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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