Daily Trading Analysis 31.08.2021

Trading Analysis of EUR/USD
UOB Group analysts note that EUR/USD could rise to 1.1835 in the coming weeks.






Our Analysis:

While the price is below 1.1900, follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.1798
  • Take Profit 1: 1.1700
  • Take Profit 2: 1.1660

Alternative scenario:

If the level 1.1900 is broken-out, follow the recommendations below:
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.1900
  • Take Profit 1: 1.1980
  • Take Profit 2: 1.2100

Trading Analysis of NZD/USD
The NZD/USD is consolidating near 0.7000 on Monday holding on to gains made on Friday.






Our Analysis:

While the price is below 0.7035, follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 0.7000
  • Take Profit 1: 0.6900
  • Take Profit 2: 0.6800

Alternative scenario:

If the level 0.7035 is broken-out, follow the recommendations below:
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 0.7035
  • Take Profit 1: 0.7140
  • Take Profit 2: 0.7240

Fundamental Trading
Analysis of Pfizer
Pfizer is no stranger to victories in the fight against the coronavirus. The pharmaceutical behemoth marked its first significant victory last December when the U.S. Food and Drug Administration (FDA) issued an emergency use authorization (EUA) for its vaccine. This made Pfizer the first company to bring the COVID-19 vaccine to market.

Our Analysis:

As long as the price is above 45.30, follow the recommendations below:
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 47.38
  • Take Profit 1: 51.20
  • Take Profit 2: 52.70

Alternative scenario:

If the level of 45.30 is broken-down, follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 45.30
  • Take Profit 1: 42.90
  • Take Profit 2: 41.30

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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