Daily Trading Analysis 07.07.2020

Technical & Fundamental analysis

Trading Analysis of AUD/USD Australia, due to the spread of coronavirus for the first time in 100 years closed the border between the states of New South Wales and Victoria, reported July 6 The Guardian. Over the past 24 hours, 127 new cases of coronavirus infection have been identified in Melbourne, the highest number since the pandemic began. The last state border posts were exhibited in 1919, during the Spanish pandemic. Our Analysis: Provided that the currency pair is traded below 0.6990 follow the recommendations below: The timeframe: 30 min Recommendation: short position Entry point: 0.6971 Take Profit 1: 0.6950 Take Profit 2: 0.6920 Alternative scenario: In case of breakout of the level 0.6990, follow the recommendations below: The timeframe: 30 min Recommendation: long position Entry point: 0.6990 Take Profit 1: 0.7010 Take Profit 2: 0.7035 Learn More Trading Analysis of GBP/USD As British Prime Minister B. Johnson stated, he would like restrictive quarantine measures to be removed from the still closed sectors as soon as possible. He promised that the authorities would present a similar schedule for lifting the restrictions this week, but warned that if the virus breaks out of control, he would not hesitate to introduce such measures again. Our Analysis: Provided that the currency pair is traded below 1.2520, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2499 Take Profit 1: 1.2480 Take Profit 2: 1.2455 Alternative scenario: In case of breakout of the level 1.2520, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2520 Take Profit 1: 1.2540 Take Profit 2: 1.2560 Learn More Fundamental Trading Analysis of AUD/NZD New Zealand NZIER Business Confidence for the second quarter was reported at -63%. Forex traders can compare this to New Zealand NZIER Business Confidence for the first quarter, reported at -70%. New Zealand NZIER QSBO Capacity Utilization for the second quarter was reported at 92.8%. Forex traders can compare this to New Zealand NZIER QSBO Capacity Utilization for the first quarter, reported at 92.1%. Our Analysis: Should price action for the AUD/NZD remain inside the or breakout above the 1.0580 to 1.0660 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.0620 Take Profit Zone: 1.0820 – 1.0880 Stop Loss Level: 1.0520 Alternative scenario: Should price action for the AUD/NZD breakdown below 1.0580 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.0520 Take Profit Zone: 1.0420 – 1.0460 Stop Loss Level: 1.0580 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.

Laino Group Limited | Cedar Hill Crest, Villa, Kingstown, St. Vincent & Grenadines Unsubscribe phanhoa1821960.trader@blogger.com About Constant Contact Sent by info@paxforex.com