Daily Trading Analysis 24.03.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canada: January retail sales -1.1% to $54.5 billion vs. -3,4%. Retail sales excluding cars -1.2% vs forecast -2.7%. Core sales (excluding gas station sales and sales of vehicles and parts) -1.4%, the 2nd consecutive decline m/m. February retail sales estimate +4.0%. USD/CAD ignored the report and continues to trade up 0.05% intraday at 1.2490. Our Analysis: Provided that the currency pair is traded above 1.2555, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2591 Take Profit 1: 1.2615 Take Profit 2: 1.2640 Alternative scenario: In case of breakdown of the level 1.2555, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2555 Take Profit 1: 1.2540 Take Profit 2: 1.2520 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indices closed Tuesday's trading lower, following the shares of companies that will be most affected by the slowdown in economic activity after the pandemic. The Dow Jones Industrial Average index fell 308.05 points (0.94%) to 32423.15 points. Our Analysis: Provided that the index is traded below 13175.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13017.00 Take Profit 1: 12900.00 Take Profit 2: 12760.00 Alternative scenario: In case of breakout of the level 13175.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13175.00 Take Profit 1: 13285.00 Take Profit 2: 13550.00 Learn More Fundamental Trading Analysis of Verizon  Verizon Communications was not resilient to the negative effects of the coronavirus pandemic last year. Like many other companies, its revenues were down in 2020 compared to 2019. But as recovery from the crisis gains momentum, Verizon expects its wireless services and other revenues to grow by at least 2 percent in 2021. Does that mean now is a perfect moment to buy stock? Our Analysis: Provided that the company is traded above 54.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 57.00 Take Profit 1: 59.00 Take Profit 2: 60.00 Alternative scenario: In case of breakdown of the level 54.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 54.00 Take Profit 1: 52.00 Take Profit 2: 51.00 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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