Daily Trading Analysis 08.09.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY Japan's economy minister, Y. Nishimura said the national economy is showing signs of recovery: Revision to reduce capital expenditures has worsened the situation in the corporate profits segment and increased uncertainty about forecasts; Corporate spending indicators are showing signs of adaptation to a "new lifestyle"; Household income is growing, so the economy should continue recovery. These positive comments were made shortly after the release of depressing data on Japan's GDP, which reflected a 28.1% contraction in the economy in the 2nd quarter against a preliminary estimate of 27.8%. Our Analysis: Provided that the currency pair is traded above 106.10 follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 106.26 Take Profit 1: 106.40 Take Profit 2: 106.55 Alternative scenario: In case of breakdown of the level 106.10, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 106.10 Take Profit 1: 105.95 Take Profit 2: 105.80 Learn More Trading Analysis of Apple Shares The Italian antitrust authority launched an investigation into cloud storage services managed by Apple, Dropbox, and Google in response to some complaints about unfair commercial practices. In a press release announcing the investigation, it is stated that a total of six investigations have been launched. In addition to allegations of unfair commercial practices, the regulatory body said it was investigating complaints of violations of the Italian Consumer Directive. Our Analysis: Provided that the asset is traded below 124.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 119.50 Take Profit 1: 116.25 Take Profit 2: 113.60 Alternative scenario: In case of breakout of the level 124.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 124.00 Take Profit 1: 127.50 Take Profit 2: 131.60 Learn More Fundamental Trading Analysis of General Electric  J.P. Morgan analyst Stephen Tusa has, in recent years, been the most ardent advocate that General Electric shares should not be bought. He foresaw numerous GE mistakes, regularly pushing the bank's clients to sell GE shares. When his forecasts were accurate, Tusa was widely recognized by investors, and his analytical notes started to induce large fluctuations in the price of GE shares. Our Analysis:  Provided that the asset is traded below 6.80, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 6.44 Take Profit 1: 5.67 Take Profit 2: 5.42 Alternative scenario: In case of breakout of the level 6.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 6.80 Take Profit 1: 7.24 Take Profit 2: 7.49 Learn More Fundamental Trading Analysis of EUR/AUD Australian NAB Business Conditions for August were reported at -6 and Australian NAB Business Confidence at -8. Forex traders can compare this to NAB Business Conditions for July, reported at 0, and to Australian NAB Business Confidence, reported at -14. Our Analysis: Should price action for the EUR/AUD remain inside the or breakdown below the 1.6180 to 1.6250 zone the following trade set-up is recommended: Timeframe: D1 Recommendation: Short Position Entry Level: Short Position @ 1.6215 Take Profit Zone: 1.5905 – 1.5975 Stop Loss Level: 1.6330 Alternative scenario: Should price action for the EUR/AUD breakout above 1.6250 the following trade set-up is recommended: Timeframe: D1 Recommendation: Long Position Entry Level: Long Position @ 1.6330 Take Profit Zone: 1.6455 – 1.6520 Stop Loss Level: 1.6250 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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