Daily Trading Analysis 08.07.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD The USD/CAD gained momentum amid a general strengthening of the US dollar across the whole market ahead of the FOMC minutes release and reached the highest values since April around 1.2518. Our Analysis: Provided that the currency pair is traded above 1.2250, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2501 Take Profit 1: 1.2650 Take Profit 2: 1.2740 Alternative scenario: In case of breakdown of the level 1.2250, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2250  Take Profit 1: 1.2130 Take Profit 2: 1.2020 Learn More Trading Analysis of NZD/USD FOMC to begin tapering in December or even November - Goldman Sachs. Our Analysis: While the price is above 0.6890, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7086 Take Profit 1: 0.7343 Take Profit 2: 0.7463 Alternative scenario: If the level 0.6890 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6890 Take Profit 1: 0.6692 Take Profit 2: 0.6573 Learn More Fundamental Trading Analysis of General Electric Goldman Sachs analyst Joe Ritchie recently called General Electric stock a perfect option and set a $16 price mark on it. That was good news for investors, given that the stock closed Wednesday's trading at $12.98, but is such an optimistic vision explained? Let's take a look at a few of the premises Ritchie made and see if they stand up to thorough examination. Our Analysis: While the price is below 13.90, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 12.92 Take Profit 1: 12.00 Take Profit 2: 11.60 Alternative scenario: If the level 13.90 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 13.90 Take Profit 1: 14.60 Take Profit 2: 15.00 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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