Daily Trading Analysis 11.06.2020

Technical & Fundamental analysis

Trading Analysis AUD/NZD Fitch International Ratings has affirmed Australia's long-term foreign currency Issuer Default Rating (IDR) at 'AAA', changing its outlook to 'negative' from 'stable'. The agency said the 'negative' outlook reflects the serious impact that the COVID-19 coronavirus pandemic is having on Australia's economy and government finances. "The country's GDP will decline sharply in 2020, and rising government spending in response to the epidemiological and economic crisis will lead to a significant budget deficit and a sharp increase in government debt to GDP," Fitch said. Our Analysis: Provided that the currency pair is traded below 1.0690, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.0670 Take Profit 1: 1.0660 Take Profit 2: 1.0640 Alternative scenario: In case of breakout of the level 1.0690, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.0690 Take Profit 1: 1.0740 Take Profit 2: 1.0760 Learn More Trading Analysis of Microsoft After a short pause, technical stocks are back in fashion. On Tuesday the Nasdaq index rose 0.3%, while the Dow Jones index fell 1.1% and the S & P 500 dropped 0.8%. This continued on Wednesday as well. Return to technology may lead to a high return on Microsoft stock options. Microsoft (MSFT) closed at a new 52-week high on Tuesday and continued on Wednesday. This had a bullish look along with market changes. The critical support is around $175, which coincides with the rise of the 50-day moving average. There is also strong support for Microsoft shares at $186. Our Analysis: Provided that the asset is traded above 195.40, follow the recommendations below: The time frame: H4 Recommendation: long position Entry point: 196.71 Take Profit 1: 199.70 Take Profit 2: 200.40 Alternative scenario: In case of breakdown of the level 195.40, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 195.40 Take Profit 1: 194.30 Take Profit 2: 193.70 Learn More Trading Analysis of EUR/USD French non-arm payrolls for the first quarter increased by 2.0% quarterly. Economists predicted a decrease of 2.3%. Forex traders can compare this to French non-arm payrolls for the fourth quarter, which increased by 0.4% quarterly. Italian Industrial Production for April decreased by 19.1% monthly and by 42.5% annualized. Economists predicted a decrease if 24.0% and 40.0% Forex traders can compare this to Italian Industrial Production for March, which decreased by 28.4% monthly and by 29.4% annualized. Our Analysis: Should price action for the EUR/USD remain inside the or breakdown below the 1.1330 to 1.1420 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.1380 Take Profit Zone: 1.0975 – 1.1065 Stop Loss Level: 1.1450 Alternative scenario: Should price action for the EUR/USD breakout above 1.1420 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.1450 Take Profit Zone: 1.1515 – 1.1570 Stop Loss Level: 1.1380 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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