Daily Trading Analysis 09.11.2020

Technical & Fundamental analysis

Trading Analysis of USD/CAD In Canada, the unemployment rate fell in October: Canada: October, the net change in the employment rate of 83.6 thousand vs. the forecast of 100 thousand; Full employment is 69.1 thousand vs. the forecast of 100 thousand. 334 thousand; -3.1% YoY; Part-time employment is 14.5 thousand vs. the previous 44.2 thousand; -3.4% YoY; The unemployment rate is 8.9% vs. the forecast of 8.8% and pre. 9.0%; Hourly earnings of 5.2% vs. the forecast 5.4%; The proportion of the working-age population 65.2% vs. the forecast 65.0%. Our Analysis: Provided that the currency pair is traded below 1.3045, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3011 Take Profit 1: 1.2990 Take Profit 2: 1.2960 Alternative scenario: In case of breakout of the level 1.3045, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3045 Take Profit 1: 1.3070 Take Profit 2: 1.3090 Learn More Trading Analysis of GOLD/USD China's largest foreign exchange reserves in the world fell in October for the second month in a row - to a minimum level since June - amid a strengthening yuan against the U.S. dollar. Their volume fell by $14.58 billion - to $3.128 trillion, according to the People's Bank of China (NBK). Gold reserves in value terms in China in October fell to $ 117.89 billion compared to $ 118.2 billion a month earlier, said the NBK. Meanwhile, the reserves remained at 62.64 million ounces for the 13th consecutive month. Our Analysis: Provided that the price is above 1949.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1962.00 Take Profit 1: 1980.00 Take Profit 2: 1990.00   Alternative scenario: In case of breakdown of the level 1949.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1949.00 Take Profit 1: 1935.00 Take Profit 2: 1925.00 Learn More Fundamental Trading Analysis of Facebook Facebook shares have been volatile since the company published its third-quarter profit and loss statement late last month. Shares fell last Friday (the day after the report was released) before they rose higher last week. The company cited uncertainty over advertising revenue growth and regulatory restrictions in its report. Such issues may lead investors to question whether communications company stocks can overcome these tailwinds and continue to thrive in an ever-changing environment. Our Analysis: As long as the price is above 271.30, follow these recommendations: Time frame: D1 Recommendation: long position Entry point: 294.68 Take Profit 1: 325.00 Take Profit 2: 339.00 Alternative scenario: In case of breakdown of the level 271.30, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 271.30 Take Profit 1: 248.50 Take Profit 2: 235.20 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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