Daily Trading Analysis 17.03.2021

Technical & Fundamental analysis

Trading Analysis of USD/JPY  As the head of the Central Bank of Japan, H. Kuroda said during an ongoing speech in Parliament: Foreign exchange rates are determined by a variety of factors; In recent years, the yen, dollar, and euro have shown stability; It is due to the course of monetary policy of the Bank of Japan, the Fed, and the ECB to achieve inflation within 2%; It is difficult to explain the yen's rapid rise in 2011 by the monetary base gap of Japan and other economies alone; The yen as a safe-haven currency tends to rise in moments of market turbulence; good thing that's not the case now; The current rise in Treasury yields is a reflection of optimism about economic recovery, but the COVID-19 situation remains the biggest risk factor for the outlook; The Central Bank is keeping a close eye on the forex situation as it affects the economy and prices. Our Analysis: Provided that the currency pair is traded above 108.90, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 109.08 Take Profit 1: 109.35 Take Profit 2: 109.45 Alternative scenario: In case of breakdown of the level 108.90, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 108.90 Take Profit 1: 108.75 Take Profit 2: 108.60 Learn More Trading Analysis of Dow Jones 30 Index In Tuesday's trading session U.S. stock indices did not demonstrate the same dynamics: Dow Jones Industrial Average and S&P 500 indices fell after reaching the all-time highs the day before, while Nasdaq gained slightly. The U.S. Federal Reserve began a two-day meeting on Tuesday. Traders expect the regulator to provide interest rate and inflation forecasts, CNBC notes. Particular attention is attached to Fed Chairman Jerome Powell's press conference on Wednesday. The Dow Jones Industrial Average index was down 127.51 points (0.39%) at 32825.95. Our Analysis: Provided that the index is traded above 32460.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 32824.00 Take Profit 1: 33000.00 Take Profit 2: 33230.00 Alternative scenario: In case of breakdown of the level 32460.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 32460.00 Take Profit 1: 32115.00 Take Profit 2: 31790.00 Learn More Fundamental Trading Analysis of Exxon Mobil Exxon Mobil revealed plans to cut carbon dioxide emissions at its Investor Day meeting in March, while a surprise move by OPEC led to higher oil prices. Today, we will turn to the numbers and some fundamental insights to see if investors should pay attention to this company's stock now. Our Analysis: While the price is above 57.30, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 61.28 Take Profit 1: 65.50 Take Profit 2: 67.60 Alternative scenario: If the level 57.30 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 57.30 Take Profit 1: 54.00 Take Profit 2: 51.90 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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