Daily Trading Analysis 07.12.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY As the White House economic adviser L. Kudlow said in an interview with Fox Business on Friday: The tone of negotiations on fiscal aid to the economy during the coronavirus crisis has become more optimistic; The U.S. economy is still very strong and in the process of V-shaped recovery; The pandemic could slow the U.S. economy down next year; President Trump is supporting a package of targeted assistance measures; The employment situation remains very good, November data reflect only one month's results. Our Analysis: Provided that the currency pair is traded below 104.25, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 104.11 Take Profit 1: 103.80 Take Profit 2: 103.65 Alternative scenario: In case of breakout of the level 104.25, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 104.25 Take Profit 1: 104.40 Take Profit 2: 104.55 Learn More Trading Analysis of S&P 500 Index U.S. stock indices increased at the end of trading on Friday, despite disappointing data on job growth in the United States. However, as noted by MarketWatch, four major indicators (Dow Jones, S&P 500, Nasdaq, and Russell 2000) closed trading at record high levels. The last time they updated records on one day was January 22, 2018, according to Dow Jones Market Data. Our Analysis: Provided that the index is traded above 3515.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3692.00 Take Profit 1: 3745.00 Take Profit 2: 3900.00 Alternative scenario: In case of breakdown of the level 3515.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3515.00 Take Profit 1: 3390.00 Take Profit 2: 3210.00 Learn More Fundamental Trading Analysis of Pfizer Today there is a lot of excitement around Pfizer and the COVID-19 vaccine it is working on together with BioNTech. The vaccine is more than 90% effective against COVID-19. No doubt, the company has a strong business that brings solid, stable results over many years, in addition to its success in vaccine development. Our Analysis: While the price is above 37.90, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 40.34 Take Profit 1: 43.50 Take Profit 2: 45.00 Alternative scenario: If the level 37.90 is broken-down, follow the recommendations below; Time frame: D1 Recommendation: short position Entry point: 37.90 Take Profit 1: 35.40 Take Profit 2: 33.90 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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