Daily Trading Analysis 10.11.2020

Technical & Fundamental analysis

Trading Analysis of EUR/USD Eurozone: Sentix confidence index deteriorated less than forecast: Eurozone: November, Sentix Investor Confidence Index -10.0 vs. previous year -8.3 and a forecast of -15.0; Current situation estimate -32.3 vs. the previous -32.0;  Expectations index 15.3 vs. previous -18.8 - the lowest since May; Sentix: New lockdowns have less impact on the economy than they feared. Expectations remain in the green zone. Our Analysis: Provided that the currency pair is traded below 1.1860, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.1830 Take Profit 1: 1.1795 Take Profit 2: 1.1760 Alternative scenario: In case of breakout of the level 1.1860, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.1860 Take Profit 1: 1.1895 Take Profit 2: 1.1920 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock indices were mostly up on Monday, approaching record highs. The Dow Jones Industrial Average Index rose 834.57 points (2.95%) to 29157.97 points by market close, the highest level since February. It showed the highest one-day growth since June 5. Earlier in the course of trading, the indicator reached a historic high, rising at some point by about 5.7%, or more than 1600 points. Our Analysis: Provided that the index is traded below 29935.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 29158.00 Take Profit 1: 28500.00 Take Profit 2: 27860.00 Alternative scenario: In case of breakout of the level 29935.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 29935.00 Take Profit 1: 30400.00 Take Profit 2: 30900.00 Learn More Fundamental Trading Analysis of Pfizer Pfizer shares skyrocketed in early November after the coronavirus vaccine proved 90% effective in the final phase of the study. But this did not help PFE much when the company was excluded from the desirable Dow Jones Industrial Average. Also, Pfizer and its partner BioNTech are soon planning to apply to the Food and Drug Administration for emergency approval for their COVID-19 vaccine. Companies say they can make up to 50 million doses in 2020 and up to 1.3 billion in 2021. Our Analysis: While the price is above 36.70, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 39.20 Take Profit 1: 44.80 Take Profit 2: 46.20 Alternative scenario: If the level 36.70 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 36.70 Take Profit 1: 34.50 Take Profit 2: 33.30 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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