Daily Trading Analysis 24.02.2021

Technical & Fundamental analysis

Trading Analysis of USD/JPY The Bank of Japan (BoJ) may clarify its willingness to ramp up ETF purchases when markets get volatile as part of its March review of monetary policy instruments, Reuters reported Thursday, citing three sources familiar with the matter. "There was an idea at the Bank of Japan to remove some quantitative easing guidance on ETF purchases at the March review," the sources added. Our Analysis: Provided that the currency pair is traded above 105.20, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 105.48 Take Profit 1: 105.85 Take Profit 2: 106.00 Alternative scenario: In case of breakdown of the level 105.20, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 105.20 Take Profit 1: 105.05 Take Profit 2: 104.90 Learn More Trading Analysis of GOLD/USD Gold futures prices climbed during the Asian trading on Wednesday. On COMEX, a division of the New York Mercantile Exchange, gold futures for April delivery are trading at $1,807.25 per troy ounce, up 0.07% at the time of writing this commentary. Our Analysis: Provided that the price is below 1816.00, follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1809.00 Take Profit 1: 1795.00 Take Profit 2: 1790.00  Alternative scenario: In case of breakout of the level 1816.00, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1816.00 Take Profit 1: 1825.00 Take Profit 2: 1834.00 Learn More Fundamental Trading Analysis of Boeing  Boeing continues to show significant losses, and some 777 jets have been banned from flying. But the notorious 737 Max is back in the air, and shipments have renewed. Does this mean that Boeing is now a good buy?  Our Analysis: While the price is above 200.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 217.00 Take Profit 1: 231.00 Take Profit 2: 238.00 Alternative scenario: If the level 200.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 200.00 Take Profit 1: 189.00 Take Profit 2: 182.00 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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