Daily Trading Analysis 08.02.2021

Technical & Fundamental analysis

Trading Analysis of USD/CHF As the head of Swiss Central Bank T. Jordan said: Last year we had to intervene aggressively in the foreign exchange market to reduce the strong pressure on the franc exchange rate; It is important to absorb this pressure to prevent the franc from strengthening too much; The franc is a safe-haven asset and an indicator of the level of global uncertainty; Last year, the Swiss economy showed better-than-expected resilience; At the end of 2020, the country's GDP is likely to have contracted by about 3%; The outlook for the economy remains uncertain, and the situation is fragile; Fiscal and monetary policy must remain expansionary. Our Analysis: Provided that the currency pair is traded above 0.8980, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.8998 Take Profit 1: 0.9020 Take Profit 2: 0.9035 Alternative scenario: In case of breakdown of the level 0.8980, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.8980 Take Profit 1: 0.8965 Take Profit 2: 0.9035 Learn More Trading Analysis of GOLD/USD China's foreign currency reserves, the world's largest, declined by $5.9 billion to $3.211 trillion in January, according to data released by the People's Bank of China (PBOC). China's gold reserves in value terms shrank to $116.76 billion from $118.25 billion in December, the NBK said. Meanwhile, reserves remained at 62.64 million ounces for the 16th consecutive month. Our Analysis: Provided that the price is above 1801.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1810.00 Take Profit 1: 1827.00 Take Profit 2: 1837.00  Alternative scenario: In case of breakdown of the level 1801.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1801.00 Take Profit 1: 1793.00 Take Profit 2: 1785.00 Learn More Fundamental Trading Analysis of Coca-Cola Coca-Cola shareholders turned in a downturn last month as the market declined. Shares fell 12% in January, compared with a 1% decline in the S&P 500, according to S&P Global Market Intelligence. The drop came on the back of a tough year for the top beverage maker, with shares down slightly in 2020 compared with a 16% jump in the market as a whole. Investors had good reason to short the company's stock in January. The ongoing threat of a pandemic continues to weigh on its business, for example. The COVID-19 outbreaks forced additional social distancing measures in parts of the U.S., Europe, and other key markets last month. Beverage sales trends are linked to consumer mobility, which means the beverage giant could report another period of lower volumes in an upcoming quarterly report. Our Analysis: While the price is above 48.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 50.00 Take Profit 1: 51.50 Take Profit 2: 54.50 Alternative scenario: If the level 48.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 48.00 Take Profit 1: 46.10 Take Profit 2: 43.35 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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