Daily Trading Analysis 10.07.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY Japan plans to discuss the easing of restrictions on the entry of foreign citizens with 10 countries, including China, South Korea and Taiwan. This was reported on Friday by the news agency Kyodo. Earlier today, Reuters wrote that Japanese Prime Minister S. Abe and his Australian counterpart S. Morrison held an online meeting and agreed to expedite preparations for the resumption of business travel between the countries. Our Analysis: Provided that the currency pair is traded below 107.10, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 106.94 Take Profit 1: 106.75 Take Profit 2: 106.55 Alternative scenario: In case of breakout of the level 107.10, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 107.10 Take Profit 1: 107.25 Take Profit 2: 107.35 Learn More Trading Analysis of Google Google has announced the global availability of Swirl, an advertising format that the company introduced in beta just over a year ago. The Swirl format includes advertising banners with interactive 3D product models. The whirlwind ads allow brands to illustrate behavioral changes, new technologies, unique product features, etc. Our Analysis: Provided that the asset is traded above 1472.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 1516.95 Take Profit 1: 1532.25 Take Profit 2: 1564.45 Alternative scenario: In case of breakdown of the level 1472.00, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 1472.00 Take Profit 1: 1416.00 Take Profit 2: 1385.45 Learn More Fundamental Trading Analysis of USD/CAD The US PPI for June is predicted to increase by 0.4% monthly and to decrease by 0.2% annualized. Forex traders can compare this to the US PPI for May, which increased by 0.4% monthly, and which decreased by 0.8% annualized. The US Core PPI for June is predicted to increase by 0.1% monthly and by 0.4% annualized. Forex traders can compare this to the US Core PPI for May, which decreased by 0.1% monthly, and which increased by 0.3% annualized. Our Analysis: Should price action for the USD/CAD remain inside the or breakdown below the 1.3580 to 1.3630 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.3610 Take Profit Zone: 1.3315 – 1.3390 Stop Loss Level: 1.3670 Alternative scenario: Should price action for the USD/CAD breakout above 1.3630 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.3670 Take Profit Zone: 1.3715 – 1.3800 Stop Loss Level: 1.3630 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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