Daily Trading Analysis 26.06.2020

Technical & Fundamental analysis

Trading Analysis USD/CHF Between April and June, the number of vacancy announcements fell by 27%, the recruitment firm Adecco Switzerland said on Tuesday. Anna von Ow, a research fellow at the University of Zurich who worked on the report, said that this time we are dealing with a drop in new vacancies, which is much worse than during previous crises, including the 2008-2009 financial crisis, when the impact was less sudden. Our Analysis: Provided that the currency pair is traded below 0.9495, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9480 Take Profit 1: 0.9470 Take Profit 2: 0.9460 Alternative scenario: In case of breakout of the level 0.9495, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9495 Take Profit 1: 0.9510 Take Profit 2: 0.9525 Learn More Trading Analysis of NZD/USD In New Zealand over the past 24 hours three cases of infection with coronavirus SARS-CoV-2 were identified, the press service of the New Zealand Ministry of Health. It is noted that two of them were found in Christchurch. Now all three patients are in isolation. At the same time, all new cases of infection are associated with foreign trips. All the contacts of the infected are now being tracked. Our Analysis: Provided that the currency pair is traded above 0.6402 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6436 Take Profit 1: 0.6481 Take Profit 2: 0.6504 Alternative scenario: In case of breakdown of the level 0.6402 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6402 Take Profit 1: 0.6364 Take Profit 2: 0.6342 Learn More Trading Analysis of USD/SGD Singapore Industrial Production for May decreased by 16.5% monthly and by 7.4% annualized. Economists predicted a decrease of 6.0% and an increase of 6.6%. Forex traders can compare this to Singapore Industrial Production for April, which decreased by 0.5% monthly, and which increased by 13.6% annualized. Our Analysis: Should price action for the USD/SGD remain inside the or breakdown below the 1.3855 to 1.3930 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.3900 Take Profit Zone: 1.3655 – 1.3745 Stop Loss Level: 1.3980 Alternative scenario: Should price action for the USD/SGD breakout above 1.3930 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.3980 Take Profit Zone: 1.4125 – 1.4200 Stop Loss Level: 1.3930 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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