Daily Trading Analysis 17.11.2020

Technical & Fundamental analysis

Trading Analysis of USD/JPY Yellen: There is no conflict between the Fed's dual mandate (inflation, employment): Strong growth in the labor market is beneficial for minorities; The Fed does not set a target unemployment rate for different groups of workers. Our Analysis: Provided that the currency pair is traded below 104.70, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 104.50 Take Profit 1: 104.35 Take Profit 2: 104.15 Alternative scenario: In case of breakout of the level 104.70, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 104.70 Take Profit 1: 104.90 Take Profit 2: 105.15 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indices rose on Monday, with the S&P 500 and Dow Jones Industrial Average reaching record highs after Moderna Inc reported on the effectiveness of its experimental COVID-19 vaccine. Moderna shares rose 9.6 percent after the company reported that its experimental vaccine showed 94.5 percent efficacy in preventing COVID-19 based on interim data from late stage clinical trials. Nasdaq rose 0.8% to 11,924.129 points. Our Analysis: Provided that the index is traded above 11780.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 11980.00 Take Profit 1: 12045.00 Take Profit 2: 12270.00 Alternative scenario: In case of broken-down of the level 11780.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 11780.00 Take Profit 1: 11570.00 Take Profit 2: 11360.00 Learn More Fundamental Trading Analysis of Wells Fargo During the pandemic, the financial sector was one of the worst performers in the stock market, falling by about 12 percent year on year, compared to 11 percent growth in the S&P 500. And there are weighty reasons for that: Investors are concerned about what unemployment and low-interest rates could mean for the banks. Wells Fargo was one of the lagging companies in this sector. Since it does not have a significant investment banking business that would help offset losses in consumer lending (investment banking tends to work better in volatile markets), it is more susceptible to the effects of the pandemic than other major banks. But this has been happening for a long time, a few years before the pandemic, as numerous scandals with Wells Fargo have tarnished its reputation and forced many investors to give up stocks. Our Analysis: While the price is above 22.50, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 24.19 Take Profit 1: 26.50 Take Profit 2: 27.60 Alternative scenario: If the level 22.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 22.50 Take Profit 1: 20.70 Take Profit 2: 19.60 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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