Daily Trading Analysis 08.10.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY The Japanese government is exploring additional ways to ease restrictions on entry due to coronavirus. It was reported by the newspaper Nikkei on October 8. It is assumed that now there will be more opportunities for local residents and foreign nationals permanently residing in the country to travel abroad for work. In the case of such a decision, after returning from business trips, they may be released from the mandatory two-week regime of self-isolation. Our Analysis: Provided that the currency pair is traded above 105.80, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 105.95 Take Profit 1: 106.10 Take Profit 2: 106.30 Alternative scenario: In case of breakdown of the level 105.80, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 105.80 Take Profit 1: 105.70 Take Profit 2: 105.55 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock market ended Wednesday trading by strengthening the commodities, consumer services, and healthcare sectors. At the close of the NYSE, Dow Jones gained 1.91 percent, reaching a monthly high. Our Analysis: Provided that the index is traded above 27930.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 28346.00 Take Profit 1: 28730.00 Take Profit 2: 28900.00 Alternative scenario: In case of breakdown of the level 27930.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 27930.00 Take Profit 1: 27730.00 Take Profit 2: 27360.00 Learn More Fundamental Trading Analysis of Boeing  Boeing's revenue has bottomed out, as shipments of the 737 Max have been suspended while the coronavirus is pushing air travel. Investors should take a look at fundamental aspects of the current situation of the aerospace giant to see if BA should be seen as an investment. Our Analysis: While the price is above 149.10, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 159.54 Take Profit 1: 200.80 Take Profit 2: 209.40 Alternative scenario: If the level 149.10 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 149.10 Take Profit 1: 136.40 Take Profit 2: 128.60 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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