Daily Trading Analysis 02.04.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canada: Markit PMI rose to 58.5 in March: The PMI rose the most in the 10-year history of observations; Previous PMI 54.8; The outstanding orders component reached the second highest in the history of observation; The entry price component rose to its highest since August 2018; Exit prices component reached second highest in the history of observation; The new orders component reached the third highest value in the history of observation. Our Analysis: Provided that the currency pair is traded below 1.2582, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2554 Take Profit 1: 1.2506 Take Profit 2: 1.2486 Alternative scenario: In case of breakout of the level 1.2582, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2582  Take Profit 1: 1.2615 Take Profit 2: 1.2634 Learn More Trading Analysis of Dow Jones 30 Index The U.S. stock market closed Thursday's trading higher on the strength of the oil and gas, technology and financial sectors. The Dow Jones rose 0.52%. Our Analysis: Provided that the index is traded above 32800.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 33109.00 Take Profit 1: 33415.00 Take Profit 2: 33720.00 Alternative scenario: In case of breakdown of the level 32800.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 32800.00  Take Profit 1: 32400.00 Take Profit 2: 32075.00 Learn More Fundamental Trading Analysis of Amazon Something weird has happened to Amazon in the last week. In response to the Alabama warehouse consolidation campaign, the business replied with a full-frontal attack on its critics in a way, unlike anything the company has used before. Dave Clark, Amazon's global CEO of consumer business, got into a Twitter war with Senator Bernie Sanders, and Amazon News' in-house account on the service reacted to one critic in a very rude way. Our Analysis: While the price is above 3134.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 3160.30 Take Profit 1: 3186.00 Take Profit 2: 3202.00 Alternative scenario: If the level 3134.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3134.00  Take Profit 1: 3108.00 Take Profit 2: 3092.00 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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