Daily Trading Analysis 23.11.2020

Technical & Fundamental analysis

Trading Analysis of USD/CHF Unprecedented monetary easing has expanded the US Federal Reserve's balance sheet to a new record. According to St. Louis Federal Reserve Bank, the size of the Fed's balance sheet broke the previous record of $7.17 trillion set in October and reached $7.24 trillion. During the current year, the figure rose by almost 80%, which led to higher inflationary expectations and supported gold. The yellow metal rose by 20+% this year, marking a record high of $2.075 in August. Our Analysis: Provided that the currency pair is traded below 0.9115, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9100 Take Profit 1: 0.9080 Take Profit 2: 0.9070 Alternative scenario: In case of breakout of the level 0.9115, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.9115 Take Profit 1: 0.9125 Take Profit 2: 0.9140 Learn More Trading Analysis of Nasdaq 100 Index The U.S. stock market closed trading negative on Friday amid a growing number of new infections with coronavirus and concerns about economic recovery. According to the analysis of data from Johns Hopkins University, carried out by CNBC, for the last seven days, the average daily growth of new infections in the U.S. was 165,029, which is 24% more than the figure recorded a week earlier. Economists at JPMorgan have downgraded the U.S. GDP forecast for the first quarter and now expect it to decline by 1%. Nasdaq Composite lost 49.74 points (0.42%) and reached 11854.97 points.  Our Analysis: Provided that the index is traded above 11775.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 11949.00 Take Profit 1: 12100.00 Take Profit 2: 12400.00 Alternative scenario: In case of broken-down of the level 11775.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 11775.00 Take Profit 1: 11500.00 Take Profit 2: 11250.00 Learn More Fundamental Trading Analysis of Walmart  It is difficult to underestimate Walmart. After all, it is the largest company in the world by revenue - and the largest retailer. The company expects to generate over $550 billion in revenue this year, and after a strong third-quarter earnings report, the retailer's shares are trading at record high levels. To date, the company's shares have increased by 26%. Our Analysis:  While the price is above 146.10, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 150.24 Take Profit 1: 158.60 Take Profit 2: 161.50 Alternative scenario: If the level 146.10 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 146.10 Take Profit 1: 141.30 Take Profit 2: 138.60 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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