Daily Trading Analysis 31.05.2021

Technical & Fundamental analysis

Trading Analysis of EUR/USD Clarida's comments are reported by Reuters: Rollback will depend on data; The unwinding of the restrictions puts upward pressure on inflation; The Fed needs to recognize that there is risk in both rising and falling inflation; Current data is consistent with subdued inflation expectations; Gives great weight to inflation expectations; Important to consider wage and productivity growth along with employment and the share of the active population; Does not believe cryptocurrencies can replace the money. Our Analysis: Provided that the currency pair is traded above 1.2180, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2196 Take Profit 1: 1.2215 Take Profit 2: 1.2230 Alternative scenario: In case of breakdown of the level 1.2180, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2180 Take Profit 1: 1.2160 Take Profit 2: 1.2140 Learn More Trading Analysis of Nasdaq 100 Index Major U.S. stock indices rose on Friday as investors decided to ignore data showing a jump in U.S. inflation, although recent worries about rising prices. The Nasdaq index rose 0.36% to 13,785.65 points. Our Analysis: Provided that the index is traded above 13625.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13699.00 Take Profit 1: 13885.00 Take Profit 2: 14070.00 Alternative scenario: In case of breakdown of the level 13625.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13625.00   Take Profit 1: 13330.00 Take Profit 2: 13130.00 Learn More Fundamental Trading Analysis of 3M  Multi-industry industrial business 3M is one of the most appealing stocks on the market. First of all, 3M's stock price is low enough to attract growth-oriented investors. Secondly, because of the pandemic, it is difficult to follow the restructuring. Our Analysis: Provided that the company is traded above 198.10, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 203.04 Take Profit 1: 211.50 Take Profit 2: 215.20 Alternative scenario: In case of breakdown of the level 198.10, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 198.10  Take Profit 1: 192.10 Take Profit 2: 188.40 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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