Daily Trading Analysis 27.10.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD According to the British edition of Telegraph, the chief negotiator on Brexit from the EU M. Barnier is preparing for the fact that a team of negotiators from Brussels will stay in London to discuss the trade deal for another three days, until Wednesday. It was previously assumed that they would return to the continent already on Sunday Our Analysis: Provided that the currency pair is traded above 1.3005, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3036 Take Profit 1: 1.3075 Take Profit 2: 1.3100 Alternative scenario: In case of breakdown of the level 1.3005, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3005 Take Profit 1: 1.2990 Take Profit 2: 1.2970 Learn More Trading Analysis of GOLD/USD The gold price rose above $1,900 per ounce on the backdrop of a decline in the dollar and uncertainty due to the US pandemic and elections. U.S. House Speaker Nancy Pelosi reported Thursday on progress in talks with the White House on new measures to help the economy combat the effects of COVID-19, but Senate Republicans remain skeptical of a possible trillion-dollar deal. Our Analysis: Provided that the price is above 1900.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1907.00 Take Profit 1: 1914.00 Take Profit 2: 1920.00  Alternative scenario: In case of breakdown of the level 1900.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1900.00 Take Profit 1: 1895.00 Take Profit 2: 1891.00 Learn More Fundamental Trading Analysis of General Electric Just when General Electric seemed to be gaining momentum at the beginning of this year, the Covid-19 pandemic reversed its results. Indeed, the pandemic harmed almost every part of the industrial conglomerate's business. Our Analysis: While the price is above 6.81, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 7.72 Take Profit 1: 8.56 Take Profit 2: 8.97 Alternative scenario: If the level 6.81 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 6.81 Take Profit 1: 6.17 Take Profit 2: 5.78 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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