Daily Trading Analysis 16.10.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD Reuters reports comments from a spokesman for British Prime Minister Johnson, who said that the chief negotiator of the British Frost filled the Prime Minister in on the details of negotiations with the EU: Britain is waiting for the conclusion of the European Council and will take it into account in determining the next steps; Britain's goal remains a trade deal with the EU. Our Analysis: Provided that the currency pair is traded below 1.2935, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2891 Take Profit 1: 1.2860 Take Profit 2: 1.2840 Alternative scenario: In case of breakout of the level 1.2935, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2935 Take Profit 1: 1.2960 Take Profit 2: 1.2990 Learn More Trading Analysis of GOLD/USD Gold prices are falling on Thursday amid the strengthening U.S. dollar after U.S. Treasury Secretary Stephen Mnuchin practically deprived markets of hope for new budget incentives before the presidential election on November 3. Our Analysis: Provided that the price is above 1897.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1907.00 Take Profit 1: 1913.00 Take Profit 2: 1925.00   Alternative scenario: In case of breakdown of the level 1897.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1897.00 Take Profit 1: 1889.00 Take Profit 2: 1882.00 Learn More Fundamental Trading Analysis of HP  The shares of HP have fallen by almost 10% in the last three years as the S&P 500 has grown by almost 40%. Even after the indexation of reinvested dividends, the total income of the company was less than 1%. HP was struggling as its relatively stable PC sales were offset by lower sales of printers and consumables. The resignation of CEO Dion Weisler, Xerox's failed aggressive takeover bid, as well as disruptions in the COVID-19 environment also prevented supporters of short positions from changing their views. Our Analysis: Provided that the company is traded above 18.39, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 19.42 Take Profit 1: 21.57 Take Profit 2: 22.79 Alternative scenario: In case of breakdown of the level 18.39, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 18.39 Take Profit 1: 17.30 Take Profit 2: 16.52 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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