Daily Trading Analysis 19.10.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY The New York City FRSB lowered its forecast for US GDP: FRSE of New York: current GDP forecast for the USA for the 3rd quarter is downgraded by 0.3% to +13.8%; GDP forecast for Q4 decreased by 1.2% to +3.6%; The main driver of the revised estimates were unpleasant surprises from the data on industrial production and capacity utilization published last week. Our Analysis: Provided that the currency pair is traded above 105.25, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 105.42 Take Profit 1: 105.60 Take Profit 2: 105.80 Alternative scenario: In case of breakdown of the level 105.25, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 105.25 Take Profit 1: 105.15 Take Profit 2: 105.00 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indices did not show a single trend at Friday's trading results. Nasdaq Composite lost 42.32 points (0.36%). Our Analysis: Provided that the index is traded above 11180.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 11927.48 Take Profit 1: 12100.00 Take Profit 2: 12350.00 Alternative scenario: In case of breakdown of the level 11180.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 11180.00 Take Profit 1: 106800.00 Take Profit 2: 10300.00 Learn More Fundamental Trading Analysis of IBM IBM shares have dropped by about 16% over the past five years, which has had an extremely negative impact on the S&P 500 profits of 75%. Even after the dividends were reinvested, IBM shares brought in only 3% of the profit. Let's assess the company's mistakes and its development strategy and see if it can finally generate higher returns over the next five years. Our Analysis: While the price is above 120.40, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 125.93 Take Profit 1: 132.90 Take Profit 2: 136.00 Alternative scenario: If the level 120.40 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 120.40 Take Profit 1: 115.20 Take Profit 2: 111.90 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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