Daily Trading Analysis 03.11.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF Tighter quarantine restrictions due to the Coronavirus pandemic will continue to impede Switzerland's economic recovery. The KOF estimates that there are two scenarios for Swiss GDP. Both have something in common: the Swiss economy will not recover before 2023. Our Analysis: Provided that the currency pair is traded below 0.9205, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9181 Take Profit 1: 0.9150 Take Profit 2: 0.9130 Alternative scenario: In case of breakout of the level 0.9205, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9205 Take Profit 1: 0.9225 Take Profit 2: 0.9245 Learn More Trading Analysis of GOLD/USD Gold prices rose on Monday due to investor cautiousness in the run-up to the U.S. presidential election and economic fears amid growing coronavirus cases. Our Analysis: Provided that the price is above 1885.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1892.01 Take Profit 1: 1899.00 Take Profit 2: 1904.00   Alternative scenario: In case of breakdown of the level 1885.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1885.00 Take Profit 1: 1878.00 Take Profit 2: 1873.00 Learn More Fundamental Trading Analysis of Amazon Amazon has a number of units that should ensure sustainable revenue and profit increase within the following few years as the coronavirus keeps powering online shopping. Today, with a third-quarter report trumping all expectations behind, are Amazon shares a worthy investment? Our Analysis: While the price is below 3338.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3036.15 Take Profit 1: 2771.00 Take Profit 2: 2648.00 Alternative scenario: If the level 3338.00 is broken-out, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 3338.00 Take Profit 1: 3557.00 Take Profit 2: 3686.00 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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