Daily Trading Analysis 08.12.2020

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canada may approve the Pfizer vaccine already this week. It was announced by Canadian Prime Minister J. Trudeau, adding that by the end of this year the country can receive 249 thousand doses of coronavirus vaccine. A person needs two doses of coronavirus vaccine to be vaccinated. Our Analysis: Provided that the currency pair is traded below 1.2815, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2806 Take Profit 1: 1.2770 Take Profit 2: 1.2750 Alternative scenario: In case of breakout of the level 1.2815, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2815 Take Profit 1: 1.2835 Take Profit 2: 1.2855 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock indices closed Monday with multi-directional changes, with Nasdaq updating its record high for the second consecutive day. The Dow Jones Industrial Average index dropped 148.47 points (0.49%) to 30069.79 points. Standard & Poor's 500 dropped by 7.16 points (0.19%) to 3,691.96 points. Nasdaq Composite added 55,71 points (0,45%) and made up 12519,95 points. Our Analysis: Provided that the index is traded above 29945.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 30050.00 Take Profit 1: 30220.00 Take Profit 2: 30400.00 Alternative scenario: In case of breakdown of the level 29945.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 29945.00 Take Profit 1: 29820.00 Take Profit 2: 29650.00 Learn More Fundamental Trading Analysis of Tesla  The first split of the electric car manufacturer Tesla in 2020 worked well. Some analysts believe that the time has come for a second split. 2020 was an excellent year for Tesla shareholders. The price of the electric car maker shares started the year at $418 per share, and on December 7 it exceeded $625 per share. It would have been quite impressive even if it had not been for the 5-to-1 split that the company made at the end of August, which gave investors about 650% of the company's profit per year. Our Analysis: While the price is above 540.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 599.00 Take Profit 1: 669.00 Take Profit 2: 703.00 Alternative scenario: If the level 540.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 540.00 Take Profit 1: 484.00 Take Profit 2: 450.00 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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