Daily Trading Analysis 05.11.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD Today, during the morning Asian session, the pound suddenly found itself under pressure because of reports in the British media that today's monetary policy meeting may still make a step towards negative interest rates. Our Analysis: Provided that the currency pair is traded below 1.3000, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2958 Take Profit 1: 1.2915 Take Profit 2: 1.2890 Alternative scenario: In case of breakup of the level 1.3000, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3000 Take Profit 1: 1.3025 Take Profit 2: 1.3050 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indices rose markedly on Wednesday, with votes still counting in several key states, including Pennsylvania, at the close of trading. Victory in Pennsylvania brings 20 votes. U.S. President Donald Trump expressed confidence that he was winning in the state. Our Analysis: Provided that the index is traded above 11340.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 11793.00 Take Profit 1: 12440.00 Take Profit 2: 13100.00 Alternative scenario: In case of breakout of the level 11340.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 11560.00 Take Profit 1: 11360.00 Take Profit 2: 11110.00 Learn More Fundamental Trading Analysis of Goldman Sachs One of the world's leading investment banks recently reported on one of its best quarters, and it trades below its tangible book value. It should tell investors everything they need to know when considering whether or not to buy Goldman Sachs shares now. The bank has all the necessary elements to thrive during the ongoing coronavirus pandemic and is positioning itself fairly confident in the future. Let's look at this issue in more detail. Our Analysis: While the price is below 207.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 197.00 Take Profit 1: 181.00 Take Profit 2: 175.00 Alternative scenario: If the level 207.00 is broken-up, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 207.00 Take Profit 1: 217.00 Take Profit 2: 223.00 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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