Daily Trading Analysis 12.03.2021

Technical & Fundamental analysis

Trading Analysis of GBP/USD According to a Reuters poll of economists during March 5-10, the rate of British economic growth will return to pre-pandemic COVID-19 levels in 2 years. 22 of the 31 economists surveyed think so. Five expect this to happen in as little as a year. Nine believe it will take longer: The median prediction is that unemployment will peak at 6.5 percent, and will likely happen in the 4th quarter of 2021; The median forecast for British GDP for 2021 was 4.6% vs. the previous estimate of 4.7%; for 2022, 5.7% vs. pre. 5,5%; None of the economists surveyed expect the Bank of England to make any changes to its monetary policy following its meeting on March 18. Our Analysis: Provided that the currency pair is traded below 1.4000, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.3973 Take Profit 1: 1.3940 Take Profit 2: 1.3915 Alternative scenario: In case of breakout of the level 1.4000, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.4000 Take Profit 1: 1.4020 Take Profit 2: 1.4040 Learn More Trading Analysis of Nasdaq 100 Index The U.S. stock market surged during trading on Thursday, led by shares of technology companies, with the Dow Jones and S&P 500 indices reaching record highs. The Dow Jones Industrial Average closed the trading day with a gain of 188.57 points (0.58%) reaching 3,2485.59 points, which was a record close. Investors' optimism was fueled by the news that on Thursday U.S. President Joe Biden approved a new $1.9 trillion package of measures to support the economy during a pandemic. The signing ceremony took place at the White House. Our Analysis: Provided that the index is traded above 12860.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13050.00 Take Profit 1: 13145.00 Take Profit 2: 13300.00 Alternative scenario: In case of breakout of the level 12860.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 12860.00 Take Profit 1: 12700.00 Take Profit 2: 12520.00 Learn More Fundamental Trading Analysis of Apple  Quite unexpectedly, Apple stock is somewhat underperforming in 2021, despite the stunning sales impulse of the iPhone 12, which could not but backed the tech giant reported a record quarter. Nevertheless, the decline in the stock price gives investors a chance to buy it now, which could provide long-term gain, directed by multi-year growth from the 5G smartphone revolution. Our Analysis: Provided that the company is traded below 130.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 121.00 Take Profit 1: 113.00 Take Profit 2: 107.25 Alternative scenario: In case of breakout of the level 130.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 130.00 Take Profit 1: 137.80 Take Profit 2: 145.00 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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