Daily Trading Analysis 23.03.2020

Technical & Fundamental analysis

Trading Analysis NZD/USD NZD/USD continues to be traded around historical lows, although the asset has already shown some consolidation area. This could mean that the medium-term downtrend is over and most likely that traders are starting to accumulate buy positions. Our Analysis: Provided that the currency pair is traded above 0.5610, follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 0.5670 Take Profit 1: 0.5745 Take Profit 2: 0. 5805 Alternative scenario: In case of breakdown of the level 0.5610, follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 0.5610 Take Profit 1: 0.5545 Take Profit 2: 0.5465 Learn More Trading Analysis of GOLD/USD The Singapore CPI for February increased by 0.3% annualized. Economists predicted an increase of 0.4%. Forex traders can compare this to the Singapore CPI for January, which increased by 0.8% annualized. Our Analysis: Should price action for XAU/USD remain inside the or breakout above the 1,470.00 to 1,515.00 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1,490.00 Take Profit Zone: 1,631.75 – 1,661.25 Stop Loss Level: 1,455.00 Alternative scenario:  Should price action for XAU/USD breakdown below 1,470.00 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1,455.00 Take Profit Zone: 1,400.00 – 1,439.00 Stop Loss Level: 1,470.00 Learn More Trading Analysis of IBM 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 128.00 Take Profit Level: 110.00 (1800 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 148.00 Take Profit Level: 150.00 (200 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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