Daily Trading Analysis 26.10.2020

Technical & Fundamental analysis

Trading Analysis of NZD/USD According to the head of the Central Bank of New Zealand A. Orr: He is aware of the asset price inflation; RBNZ should act with a focus on the medium term; Monetary policy has its limits; Under the QE program, the Central Bank still has a significant amount of space for further maneuvers; It is better to deal with inflation than with deflation. Our Analysis: Provided that the currency pair is traded below 0.6703, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.6681 Take Profit 1: 0.6646 Take Profit 2: 0.6631 Alternative scenario: In case of breakout of the level 0.6703, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6703 Take Profit 1: 0.6729 Take Profit 2: 0.6745 Learn More Trading Analysis of S&P 500 Index U.S. stock indices did not show a single trend at Friday's trading results as there was no progress in agreeing on new measures to support the U.S. economy. According to Seven Points Capital partner Mike Katz, market participants took a "wait-and-see" position. He noted that any news about the incentives leads to movement on the market, "but nothing follows, because we don't have a clear picture on this issue." U.S. Treasury Secretary Steven Mnuchin said Friday that despite significant progress in agreeing on new incentives, important issues remain, and work is continuing. Our Analysis: Provided that the index is traded below 3480.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3456.39 Take Profit 1: 3415.00 Take Profit 2: 3370.00 Alternative scenario: In case of breakout of the level 3480.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3480.00 Take Profit 1: 3515.00 Take Profit 2: 3550.00 Learn More Fundamental Trading Analysis of Facebook When the pandemic first caused local authorities to introduce quarantine restrictions, the use of social media applications reached unprecedented levels around the world. However, this did not always lead to an increase in the income of these companies as could be expected. Facebook and other social network companies receive the vast majority of their income from advertisers. But spending more time on their platforms is not always profitable if marketers are not interested in buying advertising because services are closed during a pandemic.  Our Analysis: While the price is above 264.90, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 284.79 Take Profit 1: 303.80 Take Profit 2: 313.20 Alternative scenario: If the level 264.90 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 264.90 Take Profit 1: 249.70 Take Profit 2: 240.60 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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