Daily Trading Analysis 03.08.2020

Technical & Fundamental analysis

Trading Analysis of NZD/USD On 31 July, representatives of the Foreign Ministry of South Korea, the USA, Australia, New Zealand, Vietnam, Japan, and India held a telephone conference during which they discussed the situation with the coronavirus and issues related to the resumption of economic activity. It was reported by Yonhap News, with reference to representatives of the South Korean Foreign Ministry. According to them, representatives of seven countries discussed the epidemiological situation in the regions, ways to restore economic activity, resumption of international flights, as well as the creation and distribution of vaccines against coronavirus. Our Analysis: Provided that the currency pair is traded above 0.6606 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6633 Take Profit 1: 0.6666 Take Profit 2: 0.6681 Alternative scenario: In case of breakdown of the level 0.6606 follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6606 Take Profit 1: 0.6580 Take Profit 2: 0.6565 Learn More Trading Analysis of GBP/USD Johnson: Further lifting of the restrictions is postponed: Back to work rules remain unchanged; Discipline must be respected; The period of wearing masks is extended; From August 8, several more regions will have a masked regime; If people do not follow the rules, we will be forced to impose additional restrictions; The kids are due back at school in September. Our Analysis: Provided that the currency pair is traded below 1.3120, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3091 Take Profit 1: 1.3055 Take Profit 2: 1.3020 Alternative scenario: In case of breakout of the level 1.3120, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3120 Take Profit 1: 1.3170 Take Profit 2: 1.3220 Learn More Fundamental Trading Analysis of AUD/CHF The Australian AiG Performance of Manufacturing Index for July was reported at 53.5. Forex traders can compare this to the Australian AiG Performance of Manufacturing Index for June, reported at 51.5. Australian TD Securities Inflation for July increased by 0.9% monthly. Forex traders can compare this to Australian TD Securities Inflation for June, which increased by 0.6% monthly. Australian ANZ Job Advertisements for July increased by 16.7% monthly. Forex traders can compare this to Australian ANZ Job Advertisements for June, which increased by 41.4% monthly. Our Analysis: Should price action for the AUD/CHF remain inside the or breakdown below the 0.6500 to 0.6550 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 0.6530 Take Profit Zone: 0.6220 – 0.6265 Stop Loss Level: 0.6600 Alternative scenario: Should price action for the AUD/CHF breakout above 0.6550 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 0.6600 Take Profit Zone: 0.6710 – 0.6740 Stop Loss Level: 0.6550 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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