Daily Trading Analysis 18.03.2021

Technical & Fundamental analysis

Trading Analysis of AUD/USD Australia: February, employment +88.7 vs. forecast of +30k and pre. +29.1k: Employment is back to pre-pandemic levels; Unemployment rate 5.8% vs. forecast 6.3% and pre. 6,4%; Full-time employment +89.1k vs. pre. +59.0k; Part-time employment -0.5k vs. -29.8k; The labor force participation rate is 66.1% vs. the forecast 66.1% and pre. 66,2%; Hidden unemployment rose to 8.4% - a fly in the ointment report. Our Analysis: Provided that the currency pair is traded above 0.7790, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7832 Take Profit 1: 0.7855 Take Profit 2: 0.7880 Alternative scenario: In case of breakdown of the level 0.7790, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7790 Take Profit 1: 0.7755 Take Profit 2: 0.7720 Learn More Trading Analysis of Nasdaq 100 Index U.S. stock indices gained on Wednesday on the outcome of the U.S. Federal Reserve meeting. The Fed kept the interest rate on federal funds rate in the range from 0% to 0.25% per annum, according to the communique of the Federal Open Market Committee (FOMC) after its meeting on March 16-17. The decision coincided with the forecasts of economists and market participants. The Nasdaq Composite added 53.64 points (0.4%) to settle at 13525.20 points. Our Analysis: Provided that the index is traded above 12980.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13202.00 Take Profit 1: 13300.00 Take Profit 2: 13500.00 Alternative scenario: In case of breakdown of the level 12980.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 12980.00 Take Profit 1: 12700.00 Take Profit 2: 12570.00 Learn More Fundamental Trading Analysis of Tesla Although most traders and investors are crazy about Tesla, there are still those who are not so enamored with the EV maker. Let's look at some reasons why you should be careful when adding TSLA stock to your portfolio. Our Analysis: Provided that the company is traded above 594.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 693.00 Take Profit 1: 809.00 Take Profit 2: 866.00 Alternative scenario: In case of breakdown of the level 594.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 594.00 Take Profit 1: 502.00 Take Profit 2: 448.00 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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