Daily Trading Analysis 18.08.2020

Technical & Fundamental analysis

Trading Analysis of AUD/USD Australia's unemployment rate has reached 7.5 percent, and the number of unemployed citizens has surpassed one million for the first time. The head of the Australian Bureau of Statistics (ABS) Bjorn Jarvis said this in a statement issued on August 13. Our Analysis: Provided that the currency pair is traded above 0.7200 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7223 Take Profit 1: 0.7230 Take Profit 2: 0.7245 Alternative scenario: In case of breakdown of the level 0.7200, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7200 Take Profit 1: 0.7180 Take Profit 2: 0.7165 Learn More Trading Analysis of Facebook Shares Facebook Inc. faced a negative reaction in India after it was accused of mildly treating allegedly hateful statements by a lawmaker belonging to the ruling Bharatiya Janata party to protect its business interests in its largest market by users. The committee of lawmakers is now scrutinizing "Issues related to the technology industry and want to question the use of Facebook. Our Analysis: Provided that the asset is traded above 257.40, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 261.18 Take Profit 1: 267.00 Take Profit 2: 269.80 Alternative scenario: In case of breakdown of the level 257.40, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 257.40 Take Profit 1: 252.80 Take Profit 2: 250.00 Learn More Fundamental Trading Analysis of SILVER/USD The global economy remains under stress from the Covid-19 pandemic, and new cases continue to accelerate across areas previously thought of under control. New Zealand is just one example, and the four-week delay to elections a reminder of the severity of the situation. Countries also report a surge in new cases from travelers and vacationers, defying recommendations and exposing themselves to Covid-19 before importing it back to their home country. Most government implemented assistance measures around the world are running out and need to be extended, clouding the outlook further. Our Analysis: Should price action for Silver remain inside the or breakout above the 27.550 to 28.350 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 28.000 Take Profit Zone: 29.800 – 31.300 Stop Loss Level: 27.100 Alternative scenario: Should price action for Silver breakdown below 27.550 the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 27.100 Take Profit Zone: 25.250 – 25.800 Stop Loss Level: 27.550 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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