Daily Trading Analysis 23.03.2021

Technical & Fundamental analysis

Trading Analysis of GBP/USD British Prime Minister Johnson: the impact of the third wave of the coronavirus. Reuters reports comments of the prime minister: It's worth stressing that the third wave of the coronavirus is now underway in Europe; Britain believes that now is not the time to restrict the use of the vaccine, it is important to work together; We expect the EU to continue to meet its obligations under the agreement; We remain confident in the vaccine supply. Our Analysis: Provided that the currency pair is traded above 1.3820, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3845 Take Profit 1: 1.3875 Take Profit 2: 1.3890 Alternative scenario: In case of breakdown of the level 1.3820, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3820 Take Profit 1: 1.3815 Take Profit 2: 1.3800 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock market closed yesterday on the upside amid growing shares of technology companies. Investors continue to monitor the situation on the US government bond market. The yield on ten-year US Treasuries on Monday fell to 1.682% compared with 1.729% on Friday. That gave support to tech company securities, which have been winning in the COVID-19 pandemic but have been under pressure in recent days due to rising government bond yields. The Dow Jones Industrial Average index was up 103.23 points (0.32%) at 32731.2 by market close after declining for two straight sessions. Our Analysis: Provided that the index is traded above 32500.00 , follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 32746.00 Take Profit 1: 33200.00 Take Profit 2: 33580.00 Alternative scenario: In case of breakdown of the level 32500.00 , follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 32500.00  Take Profit 1: 32160.00 Take Profit 2: 31780.00 Learn More Fundamental Trading Analysis of Cisco  Cisco Systems stock continues to rise periodically as the market turns to securities tied to the economic upturn. The outlook for CSCO stock hinges on trends in spending on cloud computing infrastructure and enterprise and telecom networks. Our Analysis: While the price is above 47.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 48.80 Take Profit 1: 51.90 Take Profit 2: 53.10 Alternative scenario: If the level 47.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 47.00  Take Profit 1: 45.10 Take Profit 2: 43.90 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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