Daily Trading Analysis 02.10.2020

Technical & Fundamental analysis

Trading Analysis of AUD/USD Australian authorities have made changes to the Coronavirus Pandemic benefit program. Total funding was reduced from seventy to thirty billion Australian dollars. Requirements for Australian citizens who can expect to receive benefits were tightened Our Analysis: Provided that the currency pair is traded below 0.7175, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7134 Take Profit 1: 0.7100 Take Profit 2: 0.7070 Alternative scenario: In case of breakout of the level 0.7175, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7175 Take Profit 1: 0.7210 Take Profit 2: 0.7225 Learn More Trading Analysis of S&P 500 U.S. stock indices rebounded on Thursday amid expectations of new stimulus after data indicated a slowdown in labor market recovery. Our Analysis: Provided that the index is traded below 3340.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3330.00 Take Profit 1: 3255.00 Take Profit 2: 3200.00 Alternative scenario: In case of breakout of the level 3340.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3340.00 Take Profit 1: 3396.00 Take Profit 2: 3428.00 Learn More Fundamental Trading Analysis of Tesla The shares of the car manufacturer Tesla skyrocketed this year. Although it was a big event for shareholders, it also means that expectations are high. It is especially true for the carmaker's deliveries in the third quarter, which Tesla is likely to announce in the coming days. Will the carmaker be able to meet the high expectations of the market? Our Analysis: While the price is above 359.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 429.00 Take Profit 1: 531.00 Take Profit 2: 579.00 Alternative scenario: If the level 359.00 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 359.00 Take Profit 1: 280.00 Take Profit 2: 233.00 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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