Daily Trading Analysis 21.10.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD According to ECB representative L. De Gindos, the latest macroeconomic data indicate the loss of the recovery momentum in the euro area: European states have been hit by the second wave of coronavirus; It does not seem that states have sought to impose the same stringent quarantine measures as in March. Our Analysis: Provided that the currency pair is traded above 1.1815, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1848 Take Profit 1: 1.1870 Take Profit 2: 1.1890 Alternative scenario: In case of breakdown of the level 1.1815, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1815 Take Profit 1: 1.1800 Take Profit 2: 1.1780 Learn More Trading Analysis of GOLD/USD Gold is rising as the weakening dollar and hopes for a new U.S. financial aid agreement ahead of next month's presidential election have raised the demand for gold as protection against inflation. Our Analysis: Provided that the price is above 1910.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1919.00 Take Profit 1: 1925.00 Take Profit 2: 1932.00   Alternative scenario: In case of breakdown of the level 1910.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1910.00 Take Profit 1: 1904.00 Take Profit 2: 1899.00 Learn More Fundamental Trading Analysis of Chevron  Chevron is increasing its presence in the Permian oil and gas-bearing basin, while oil production is weakening. So should we consider Chevron shares as a buy? Let's take a look at the earnings and the CVX stock chart. Our Analysis: Provided that the price is above 68.50, follow these recommendations: Time frame: D1 Recommendation: long position Entry point: 71.29 Take Profit 1: 79.80 Take Profit 2: 84.10   Alternative scenario: In case of breakdown of the level 68.50, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 68.50 Take Profit 1: 65.00 Take Profit 2: 62.90 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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