Daily Trading Analysis 15.05.2020

Technical & Fundamental analysis

Trading Analysis NZD/USD The New Zealand Business Manufacturing PMI for April was reported at 38.0. Forex traders can compare this to the New Zealand Business Manufacturing PMI for March, which was reported at 53.2. Chinese Retail Sales for April decreased by 7.5% annualized. Economists predicted a decrease of 7.0% annualized. Forex traders can compare this to Chinese Retail Sales for March, which decreased by 15.8% annualized. Chinese Industrial Production for April increased by 3.9% annualized. Economists predicted an increase of 1.5% annualized. Forex traders can compare this to Chinese Industrial Production for March, which decreased by 1.1% annualized. Chinese Fixed Assets ex Rural for April decreased by 10.3% annualized. Economists predicted a decrease of 10.0% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for March, which decreased by 16.1% annualized. The Chinese Surveyed Jobless Rate for April was reported at 6.0%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for March, which was reported at 5.9%. Our Analysis: Should price action for the NZD/USD remain inside the or breakout above the 0.5950 to 0.6015 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.5990 Take Profit Zone: 0.6395 – 0.6465 Stop Loss Level: 0.5880 Alternative scenario: Should price action for the NZD/USD breakdown below 0.5950 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.5880 Take Profit Zone: 0.5735 – 0.5775 Stop Loss Level: 0.5950 Learn More Trading Analysis of USD/CHF The media of different countries cite the opinions of experts and politicians that the financial crisis due to COVID-19 may be worse than the crisis of 2008. The ECB recommended Eurozone banks to refrain from paying dividends for 2019 and 2020 until at least October 1, and to refrain from buying back their own shares. Our Analysis: Provided that the currency pair is traded below 0.9745, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9670 Take Profit 1: 0.9720 Take Profit 2: 0.9710 Alternative scenario: In case of breakout of the level 0.9745, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9745 Take Profit 1: 0.9755 Take Profit 2: 0.9770 Learn More Trading Analysis of GOLD/USD The gold trades almost unchanged, as the stability of the dollar after the comments of Jerome Powell, the head of the Federal Reserve, compensated for the fear of prolonged economic weakness due to the coronavirus outbreak. Our Analysis: Provided that the price is above 1722.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1730.85 Take Profit 1: 1743.00 Take Profit 2: 1748.00 Alternative scenario: In case of breakdown of the level 1722.00 and the consolidation of the price above this level, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1722.00 Take Profit 1: 1709.00 Take Profit 2: 1702.00 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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