Daily Trading Analysis 02.08.2021

Technical & Fundamental analysis

Trading Analysis of EUR/USD On the last trading day of the month the pair made new highs in July and then pulled back under 1.1900. Our Analysis: While the price is below 1.1980, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1870 Take Profit 1: 1.1700 Take Profit 2: 1.1600 Alternative scenario: If the level 1.1980 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1980 Take Profit 1: 1.2100 Take Profit 2: 1.2190 Learn More Trading Analysis of GBP/USD GBP/USD dived under 1.3900, but held in the green zone. Our Analysis: While the price is below 1.3960, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3901 Take Profit 1: 1.3735 Take Profit 2: 1.3570 Alternative scenario: If the level 1.3960 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3960 Take Profit 1: 1.4090 Take Profit 2: 1.4240 Learn More Fundamental Trading Analysis of General Electric General Electric was once a massive power producer. Back in 2017, turbine manufacturing was the company's biggest business. Then it all went downhill. Our Analysis: While the price is above 12.50, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 13.17 Take Profit 1: 14.40 Take Profit 2: 14.90 Alternative scenario: If the level 12.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 12.50 Take Profit 1: 11.70 Take Profit 2: 11.20 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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