Daily Trading Analysis 24.12.2020

Technical & Fundamental analysis

Trading Analysis of GBP/USD British newspaper The Sun reports that today the British Prime Minister B. Johnson will hold a press conference/make a statement on Brexit. Johnson will hold a press conference/make some kind of statement on Brexit. Market participants continue to hope for the long-awaited announcement of a trade deal. Also, a senior European official said that the EU is also due to make a statement on Brexit on Thursday morning. However, he warned, no final agreement between the parties has yet been confirmed. Our Analysis: Provided that the currency pair is traded above 1.3500, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3543 Take Profit 1: 1.3600 Take Profit 2: 1.3635 Alternative scenario: In case of breakdown of the level 1.3500, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3500 Take Profit 1: 1.3460 Take Profit 2: 1.3400 Learn More Trading Analysis of Dow Jones 30 Index U.S. stock indices showed no single dynamic at the close of trading on Wednesday on mixed data. The Dow Jones Industrial Average index rose by 114.32 points (0.38%) to 30129.83 points. The number of Americans filing for unemployment benefits for the first time last week fell by 89,000 to 803,000, the U.S. Labor Department said Wednesday. According to revised data, a week earlier, the number of appeals was 892,000, not 885,000, as previously reported. On average, experts expected the number of applications to remain at 885,000, according to Trading Economics. Our Analysis: Provided that the index is traded above 29820.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 30016.00 Take Profit 1: 30340.00 Take Profit 2: 30470.00 Alternative scenario: In case of breakdown of the level 29820.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 29820.00 Take Profit 1: 29650.00 Take Profit 2: 29460.00 Learn More Fundamental Trading Analysis of General Electric General Electric shareholders could be understood for assuming that the business has already bounced back from the bottom. After all, the company's stock is up 83% over the past quarter. Nevertheless, it should be noted that the price is still down 3% from a year ago. So, the company's stock may be significantly more expensive in 2021 as well. Let's take a closer look at this industrial giant and see what GE has to do to succeed in 2021. Our Analysis: While the price is above 9.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 10.85 Take Profit 1: 11.70 Take Profit 2: 12.10 Alternative scenario: If the level 9.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 9.80 Take Profit 1: 9.10 Take Profit 2: 8.70 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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