Daily Trading Analysis 11.03.2020

Technical & Fundamental analysis

Trading Analysis EUR/USD After a sharp rise, the EUR/USD currency pair has stabilized and is being traded in a narrow range near the key resistance at 1.1451.  Our Analysis: Provided that the currency pair is traded below 1.1300, follow the recommendations below: The timeframe: 30 min Recommendation: - long position Entry point: 1. 1348 Take Profit 1: 1. 1385 Take Profit 2: 1. 1425 Alternative scenario: In case of breakdown of the level 1. 1300, follow the recommendations below: The timeframe: 30 min Recommendation - short position Entry point: 1. 1300 Take Profit 1: 1. 1275 Take Profit 2: 1. 1245 Learn More Trading Analysis of GBP/AUD Australian Westpac Consumer Confidence for March decreased by 3.8% monthly to 91.9. Forex traders can compare this to Australian Westpac Consumer Confidence for February, which increased by 2.3% monthly to 95.5. Our Analysis: Should price action for the GBP/AUD remain inside the or breakout above the 1.9725 to 1.9900 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.9875 Take Profit Zone: 2.0525 – 2.0775 Stop Loss Level: 1.9675 Alternative scenario: Should price action for the GBP/AUD breakdown below 1.9725 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.9675 Take Profit Zone: 1.9300 – 1.9400 Stop Loss Level: 1.9775 Learn More Trading Analysis of BTC/USD  The price is below the moving average of 20 MA and MA 200, indicating the downward trend.  MACD is below the zero levels. The oscillator Force Index is below the zero levels. Our Analysis: If the level of support is broken, you shall follow the recommendations below: Timeframe: H4 Recommendation: Short Position Entry Level: Short Position 7600.00 Take Profit Level: 6800.00 (80000 pips) Alternative scenario: If the price rebound from the support level, you shall follow the recommendations below: Timeframe: H4 Recommendation: Long Position Entry Level: Long Position 8100.00 Take Profit Level: 8400.00 (30000 pips) 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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