Daily Trading Analysis 23.10.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF Swissmedic, the Swiss drug regulatory agency, has begun pre-certification in the rolling submission format of a second Covid-19 vaccine, this time from the American pharmaceutical company Pfizer. Our Analysis: Provided that the currency pair is traded above 0.9060, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9074 Take Profit 1: 0.9095 Take Profit 2: 0.9110 Alternative scenario: In case of breakdown of the level 0.9060, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9060 Take Profit 1: 0.9045 Take Profit 2: 0.9030 Learn More Trading Analysis of Nasdaq 100 Index The U.S. stock market closed Thursday with growth thanks to the strengthening of the oil and gas, telecommunications and healthcare sectors. The NASDAQ Composite index rose 0.19%. Our Analysis: Provided that the index is traded above 11510.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 11662.00 Take Profit 1: 11880.00 Take Profit 2: 12040.00 Alternative scenario: In case of breakdown of the level 11510.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 11510.00 Take Profit 1: 11340.00 Take Profit 2: 11220.00 Learn More Fundamental Trading Analysis of Bank of America  CEO Warren Buffett and his company Berkshire Hathaway have long invested in bank shares. Out of the ten largest holdings in the Berkshire portfolio, four of them are banks. But as the coronavirus pandemic hit the economy and the banking sector was severely affected, Bank of America became a clear favorite of Buffett among his banking stocks, as well as among his portfolio holdings. Next, we will talk about what Bank of America means for Berkshire's portfolio. Our Analysis: While the price is above 22.60, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 23.62 Take Profit 1: 26.20 Take Profit 2: 27.00 Alternative scenario: If the level 22.60 is broken-down, follow the recommendations below. Time frame: D1 Recommendation: short position Entry point: 22.60 Take Profit 1: 21.30 Take Profit 2: 20.60 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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