Daily Trading Analysis 19.08.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD According to the R. Koch Institute (Federal Centre for Infectious Disease Control), the number of confirmed coronavirus cases in Germany rose to 226,914, with 9,243 deaths. The increase in the last 24 hours was 1,510 against +1,390 the day before. It was the highest increase since late April. Before that, the German Chancellor A. Merkel said that it was not yet possible to talk about the further easing of the restrictive measures as the number of cases per day had doubled in the last three weeks. Our Analysis: Provided that the currency pair is traded above 1.1920, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1938 Take Profit 1: 1.1965 Take Profit 2: 1.1985 Alternative scenario: In case of breakout of the level 1.1920, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1920 Take Profit 1: 1.1895 Take Profit 2: 1.1880 Learn More Trading Analysis of Apple Shares Apple has responded to a claim by Epic Games Apple to remove the Fortnite game from the Google Play App Store and App Store. That's what made Epic Games sue the app giant. The reason for the removal was a new feature in the game that allows users to perform microtransactions inside the game, bypassing the app store. And so Apple responded to the game's developer's application: We want Epic Games to remain a part of the Apple Developer Program and its application to be hosted in the store. The problem that Epic has created for itself can easily be solved if they release an update to their application that will make it conform to the rules that apply to all developers.  Our Analysis: Provided that the asset is traded above 456.40, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 462.68 Take Profit 1: 471.40 Take Profit 2: 475.60 Alternative scenario: In case of breakdown of the level 456.40, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 456.40 Take Profit 1: 449.20 Take Profit 2: 445.00 Learn More Fundamental Trading Analysis of AUD/JPY The Japanese Trade Balance for July was reported at ¥11.6B. Economists predicted a figure of -¥77.6B. Forex traders can compare this to the Japanese Trade Balance for June, reported at -¥269.3B. Exports for July decreased by 19.2% annualized and Imports decreased by 22.3% annualized. Economists predicted a decrease of 21.0 and 22.8%. Forex traders can compare this to Exports for June, which decreased by 26.2% annualized, and to Imports, which decreased by 14.4% annualized. Our Analysis: Should price action for the AUD/JPY remain inside the or breakdown below the 76.200 to 76.850 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 76.500 Take Profit Zone: 72.700 – 73.300 Stop Loss Level: 77.200 Alternative scenario: Should price action for the AUD/JPY breakout above 76.850 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 77.200 Take Profit Zone: 78.000 – 78.400 Stop Loss Level: 76.850 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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