Daily Trading Analysis 27.03.2020

Technical & Fundamental analysis

Trading Analysis GBP/USD In the UK, the extension of Coronavirus restrictive measures to six months is not excluded. This was stated by UK Deputy Chief Medical Officer Jenny Harris. According to her, some measures that limit the social interaction of the British, are an effective way to combat the coronavirus. Our Analysis: Provided that the currency pair is traded above 1.1220, follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 1.1200 Take Profit 1: 1.2385 Take Profit 2: 1.2465 Alternative scenario: In case of breakdown of the level 1.2120, follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 1.2120 Take Profit 1: 1.2050 Take Profit 2: 1.1970 Learn More Trading Analysis of USD/JPY The Tokyo CPI for March increased by 0.4% annualized. Economists predicted an increase of 0.3% annualized. Forex traders can compare this to the Tokyo CPI for February, which increased by 0.4% annualized. Our Analysis: Should price action for the USD/JPY remain inside the or breakdown below the 108.500 to 109.600 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 109.000 Take Profit Zone: 104.800 – 105.750 Stop Loss Level: 110.000 Alternative scenario:  Should price action for the USD/JPY breakout above 109.600 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 110.000 Take Profit Zone: 111.650 – 112.200 Stop Loss Level: 109.600 Learn More Trading Analysis of GOLD/USD Gold prices were boosted by the news of the shutdown of Valcambi, Argor Heraeus and PAMP refineries in Switzerland, which account for about a third of the world's gold supply. Valcambi and PAMP said that due to the coronavirus COVID-19 will stop working from March 23 to March 29, while Argor will stop until April 5. Our Analysis: Provided that the price is below 1608.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1615.00 Take Profit 1: 1645.00 Take Profit 2: 1659.00 Alternative scenario: In case of breakdown of the level 1608.00 and the consolidation of the price above this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1608.00 Take Profit 1: 1594.00 Take Profit 2: 1578.00 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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