Daily Trading Analysis 03.09.2020

Technical & Fundamental analysis

Trading Analysis of Dow Jones Index The U.S. stock market closed trading on Wednesday at record levels amid investors' hopes for progress in developing tests and a vaccine against coronavirus. The Dow Jones Industrial Average Index rose 454.84 points (1.59%) to 29100.50 points, ending the day at 1.5% below its record high of 29551.42 on February 12. Our Analysis: Provided that the currency pair is traded above 28000.00, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 29145.00 Take Profit 1: 29300.00 Take Profit 2: 29500.00 Alternative scenario: In case of breakdown of the level 28000.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 28000.00 Take Profit 1: 28660.00 Take Profit 2: 28290.00 Learn More Trading Analysis of USD/CHF 16.8 billion Swiss francs of credit funds in total received small and medium businesses in Switzerland to cope with the coronavirus pandemic. The data was provided by the Secretariat of State for Economic Affairs (SECO). Our Analysis: Provided that the currency pair is traded above 0.9095, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9119 Take Profit 1: 0.9160 Take Profit 2: 0.9180 Alternative scenario: In case of breakdown of the level 0.9095, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9095 Take Profit 1: 0.9080 Take Profit 2: 0.9060 Learn More Fundamental Trading Analysis of Alibaba  Chinese e-commerce giant Alibaba Group is at the top of the ladder. The company has smashed Wall Street's estimates in the era of the COVID-19 pandemic, and stock prices have soared 64% in the last 52 weeks. Let's analyze if it's still possible to invest in Alibaba shares at the eleventh hour, or it's too late? The company's sales grew 30% year on year to $21.8 billion in the August report for the first quarter. Profits rose 15% to $2.10 per share. The results were confirmed by consensus estimates of Wall Street, which indicated incomes of about $1.98 per share with earnings of about $21.3 billion at the top of the ranking. Our Analysis: While the price is above 277.90, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 296.07 Take Profit 1: 317.50 Take Profit 2: 326.50 Alternative scenario: If the level 277.90 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 277.90 Take Profit 1: 263.10 Take Profit 2: 254.10 Learn More Fundamental Trading Analysis of USD/JPY The Final Japanese Jibun Bank Services PMI for August was reported at 45.0, and the Final Japanese Jibun Bank Composite PMI at 45.2. Economists predicted a figure of 45.0 and 44.9. Forex traders can compare this to the previous Japanese Jibun Bank Services PMI for August, reported at 45.4, and to the previous Japanese Jibun Bank Composite PMI, reported at 44.9. Our Analysis: Should price action for the USDJPY remain inside the or breakdown below the 106.100 to 106.600 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 106.300 Take Profit Zone: 104.150 – 104.650 Stop Loss Level: 106.950 Alternative scenario: Should price action for the USDJPY breakout above 106.600 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 106.950 Take Profit Zone: 107.500 – 108.150 Stop Loss Level: 106.600 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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