Daily Trading Analysis 02.06.2021

Technical & Fundamental analysis

Trading Analysis of EUR/USD The unemployment rate in the Eurozone fell from 8.1% to 8.0%. Comment: RSI shows the development of an uptrend in a medium term. Our Analysis: While the price is above 1.1980, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2197 Take Profit 1: 1.2350 Take Profit 2: 1.2450 Alternative scenario: If the level 1.1980 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1980 Take Profit 1: 1.1880 Take Profit 2: 1.1775 Learn More Trading Analysis of GBP/USD The deputy governor of the Bank of England, D. Ramsden said the central bank is keeping a close eye on the property market boom as it could add to price pressures, threatening a post-pandemic economic recovery. Our Analysis: While the price is above 1.3970, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4187 Take Profit 1: 1.4380 Take Profit 2: 1.4500 Alternative scenario: If the level 1.3970 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3970 Take Profit 1: 1.3800 Take Profit 2: 1.3670 Learn More Fundamental Trading Analysis of Alibaba  Alibaba stock has been in a downtrend for some time, even though the company continues to post solid earnings and sales growth. Alibaba stock has come under increased regulatory scrutiny in the last couple of months. BABA stock climbed to its 50-day moving average at the beginning of this week, but is this stock worth buying now? Our Analysis: While the price is above 204.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 213.96 Take Profit 1: 231.00 Take Profit 2: 236.60 Alternative scenario: If the level 204.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 204.80 Take Profit 1: 195.70 Take Profit 2: 190.20 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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