Daily Trading Analysis 15.07.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD Britain has decided to stop using Huawei equipment for 5G and prohibit the purchase of Huawei components from the end of the year. The National Cyber Security Centre of Britain reported to the government on the change of security assessment of Huawei's presence in the British 5G network. The new U.S. sanctions against Huawei will negatively affect the supply of equipment to Britain. Our Analysis: Provided that the currency pair is traded above 1.2540, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2574 Take Profit 1: 1.2585 Take Profit 2: 1.2610 Alternative scenario: In case of breakdown of the level 1.2540, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2540 Take Profit 1: 1.2505 Take Profit 2: 1.2480 Learn More Trading Analysis of eBay eBay will report earnings in two weeks. Analyst Scott Devitt on Tuesday confirmed eBay's share BUY rating while increasing the target price to $66 from $52. Last month eBay provided an update in which it disclosed global sales during May and improved its forecast for gross margin growth in the second quarter ranging from 23% to 26% in the second quarter. Our Analysis: Provided that the asset is traded above 58.45, follow the recommendations below: The timeframe: H4 Recommendation: long position Entry point: 58.97 Take Profit 1: 59.75 Take Profit 2: 60.50 Alternative scenario: In case of breakdown of the level 58.45, follow the recommendations below: The timeframe: H4 Recommendation: short position Entry point: 58.45 Take Profit 1: 57.60 Take Profit 2: 57.15 Learn More Fundamental Trading Analysis of USD/ZAR The South African CPI for May is predicted to decrease by 0.5% monthly and to increase by 2.2% annualized. Forex traders can compare this to the South African CPI for April, which decreased by 0.5% monthly, and which increased by 3.0% annualized. The Core CPI for May is predicted to increase by 0.1% monthly and by 3.2% annualized. Our Analysis: Should price action for the USD/ZAR remain inside the or breakdown below the 16.4500 to 16.9200 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 16.6900 Take Profit Zone: 15.4900 – 15.7500 Stop Loss Level: 17.0600 Alternative scenario: Should price action for the USD/ZAR breakout above 16.9200 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 17.0600 Take Profit Zone: 17.4900 – 17.7000 Stop Loss Level: 16.9200 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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