Daily Trading Analysis 11.02.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD As stated by the deputy governor of the Bank of Canada T. Lane: The pandemic has forced the Bank of Canada to speed up work on creating its own digital currency; Such currency will be released only if and when the time is right; One of the determining factors will be a sharp decline in the use of cash; Similar private sector offerings in this segment have serious drawbacks; Cryptocurrencies such as bitcoin have no good reason to claim they are the money of the future; Recent price hikes look more like speculative mania. Our Analysis: Provided that the currency pair is traded below 1.2715, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2698 Take Profit 1: 1.2665 Take Profit 2: 1.2650 Alternative scenario: In case of breakout of the level 1.2715, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2715 Take Profit 1: 1.2740 Take Profit 2: 1.2765 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indexes closed more than 1% higher Thursday, with the S&P 500 and Nasdaq hitting record closing highs after another string of encouraging company reports and data indicating that the U.S. labor market may be stabilizing. The Dow and S&P 500 rose for a fourth straight day, and investor hopes for further progress in reconciling stimulus to combat the effects of the pandemic also supported the market. Our Analysis: Provided that the index is traded below 13770.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13655.00 Take Profit 1: 13530.00 Take Profit 2: 13400.00 Alternative scenario: In case of breakout of the level 13770.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13770.00 Take Profit 1: 13900.00 Take Profit 2: 13995.00 Learn More Fundamental Trading Analysis of eBay  eBay shares have attracted very little from traders and investors alike recently. They traded in a range for a long time until Jamie Iannone became CEO in April. Nevertheless, both the pandemic and the change in leadership have revived interest in consumer discretionary stocks. Such a different approach could make eBay an overlooked story of a comeback in a fast-growing industry. Our Analysis:  While the price is above 59.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 60.47 Take Profit 1: 64.80 Take Profit 2: 70.00 Alternative scenario: If the level 59.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 59.00 Take Profit 1: 55.30 Take Profit 2: 51.00 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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