Daily Trading Analysis 16.11.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD Last weekend, it became known that the Prime Minister of Britain B. Johnson left for self-isolation after contact with an infected covid-19. The Prime Minister himself reportedly does not show any signs of illness. As Johnson himself explained on Twitter, he just "follows the rules". Meanwhile, in Britain on Saturday, there was a record increase in the incidence of coronavirus by 26,860 new cases. Our Analysis: Provided that the currency pair is traded above 1.3190, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3220 Take Profit 1: 1.3245 Take Profit 2: 1.3275 Alternative scenario: In case of breakdown of the level 1.3190, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3190 Take Profit 1: 1.3170 Take Profit 2: 1.3150 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock market grew at the end of trading on Friday. Dow Jones rose 4.1 percent and S&P 500 2.16 percent for the week after Pfizer (NYSE: PFE) Inc. announced Monday it had 90 percent effective coronavirus vaccine it is developing with German BioNTech. Our Analysis: Provided that the index is traded above 28450.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 29350.00 Take Profit 1: 29940.00 Take Profit 2: 31300.00 Alternative scenario: In case of breakdown of the level 28450.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 28450.00 Take Profit 1: 27570.00 Take Profit 2: 26100.00 Learn More Fundamental Trading Analysis of Home Depot  Home Depot sales are increasing, but this does not mean that the company's shares automatically become a "buy". A home improvement retailer benefits significantly from the fact that consumers are less able to spend their income. Shares have already grown 26% a year, so perhaps a recent jump in stock would draw attention to their current price. Our Analysis: While the price is below 289.20, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 277.80 Take Profit 1: 261.30 Take Profit 2: 254.40 Alternative scenario: If the level 289.20 is broken-out, follow the recommendations below. Time frame: D1 Recommendation: long position Entry point: 289.20 Take Profit 1: 300.90 Take Profit 2: 308.20 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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