Daily Trading Analysis 29.12.2020

Technical & Fundamental analysis

Trading Analysis of AUD/USD China's copper imports from Australia declined 34% to 26,717 tons in November, the lowest since January 2017. It was the result of deteriorating relations between the two countries and a corresponding adjustment in the Chinese government's policy towards Australia. Our Analysis: Provided that the currency pair is traded above 0.7570, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7595 Take Profit 1: 0.7625 Take Profit 2: 0.7640 Alternative scenario: In case of breakdown of the level 0.7570, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7570 Take Profit 1: 0.7555 Take Profit 2: 0.7540 Learn More Trading Analysis of S&P 500 Index The U.S. stock market rose in trading on Monday, with all three major indices closing at new historic highs. The market was supported by news that U.S. President Donald Trump signed the country's $2.3 trillion fiscal year 2021 budget, which includes a $900 billion pandemic economic support package. The decision, which was announced Sunday, brought relief to investors who were alarmed by Trump's demands last week that Congress amend the COVID-19 pandemic relief bill and increase stimulus cheques to Americans and small businesses. Our Analysis: Provided that the index is traded above 3722.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3735.00 Take Profit 1: 3760.00 Take Profit 2: 3780.00 Alternative scenario: In case of breakdown of the level 3722.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 3722.00 Take Profit 1: 3704.00 Take Profit 2: 3690.00 Learn More Fundamental Trading Analysis of Caterpillar  Presumably, construction, mining, and oil and gas were among the sectors hardest hit by the coronavirus pandemic. Nevertheless, shares of leading equipment maker Caterpillar show no signs of slowing down. The company's stock has nearly doubled from its March lows and is up 18% from a year earlier. Our Analysis: While the price is above 173.70, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 175.20 Take Profit 1: 188.20 Take Profit 2: 191.80 Alternative scenario: If the level 173.70 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 173.70 Take Profit 1: 167.80 Take Profit 2: 164.40 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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