Daily Trading Analysis 29.01.2021

Technical & Fundamental analysis

Trading Analysis of EUR/USD Commenting on yesterday's Fed verdict on monetary policy, Oxford Economics analysts write: Powell made it clear that the FOMC would rather err on the side of a slower unwinding of accommodation than risk unwinding it too hastily; High levels of uncertainty about the pandemic persist; The economy and labor market are still far from full recovery; The central bank seeks to avoid a repeat of market fever in anticipation of a rollback, which could cause long-term rates to rise. Our Analysis: Provided that the currency pair is traded below 1.2125, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2125 Take Profit 1: 1.2065 Take Profit 2: 1.2055 Alternative scenario: In case of breakout of the level 1.2125, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2125 Take Profit 1: 1.2140 Take Profit 2: 1.2155 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock market closed Thursday's trading after the Dow Jones and S&P 500 indicators showed the biggest daily drop since late October. Investors focused on corporate reports and statistical data. The Dow Jones Industrial Average index rose 300.19 points (0.99%) to 30,603.36 points. Our Analysis: Provided that the index is traded below 30430.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 30300.00 Take Profit 1: 30200.00 Take Profit 2: 29875.00 Alternative scenario: In case of breakout of the level 30430.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 30430.00 Take Profit 1: 30900.00 Take Profit 2: 31100.00 Learn More Fundamental Trading Analysis of General Electric Investors had high hopes for General Electric's fourth-quarter earnings report. Three months ago, the company had projected that its industrials would generate at least $2.5 billion in free cash flow in the last quarter of the year. GE, on the other hand, lost nearly $3.8 billion in the first nine months of 2020 as a result of pandemic and seasonal factors. Our Analysis: While the price is above 10.10, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 10.90 Take Profit 1: 11.75 Take Profit 2: 13.25 Alternative scenario: If the level 10.10 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 10.10 Take Profit 1: 8.30 Take Profit 2: 7.70 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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