Daily Trading Analysis 22.06.2020

Technical & Fundamental analysis

Trading Analysis GBP/USD As British Prime Minister B. Johnson stated, commenting on the economic impact of the Coronavirus pandemic: The British economy has shown resilience, but difficult times lie ahead. The process of making up for economic losses will be painful and costly, but we will manage. We are entering a phase during which I hope we will be able to implement quarantine measures at the local rather than the national level.  Our Analysis: Provided that the currency pair is traded above 1.2335, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2355 Take Profit 1: 1.2410 Take Profit 2: 1.2455 Alternative scenario: In case of breakdown of the level 1.2335, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2335 Take Profit 1: 1.2285 Take Profit 2: 1.2250 Learn More Trading Analysis of Boeing Boeing Co.'s International Space Station Program Manager, Marc Malkin, will leave the company next month and be replaced by a senior official. Malkin's resignation is the last management transition to sensor space stations.  Our Analysis: Provided that the asset is traded above 185.50, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 185.54 Take Profit 1: 198.30 Take Profit 2: 208.10 Alternative scenario: In case of breakdown of the level 185.50, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 185.50 Take Profit 1: 174.20 Take Profit 2: 163.45 Learn More Trading Analysis of BTC/USD Bitcoin miners are hoarding BTC at levels not seen since 2010. It is not a bullish sign but suggests fear of miners that the network cannot handle requests as demand remains weak. A supply shock could crash the price, eroding already thin profit margins. It adds a sell wall should prices increase above 10,000, at which point the hoarded coins are offloaded, ensuring ongoing pressure to the downside. The near-to-medium term outlook for Bitcoin suggests dominant selling pressure, while hopes to the upside are reserved for hardcore believers in Bitcoin. Our Analysis: Should price action for the BTC/USD remain inside the or breakdown below the 9,210 to 9,540 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 9,400 Take Profit Zone: 7,220 – 7,710 Stop Loss Level: 9,700 Alternative scenario: Should price action for the BTC/USD breakout above 9,540 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 9,700 Take Profit Zone: 10,360 – 10,470 Stop Loss Level: 9,540 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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