Daily Trading Analysis 22.04.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD dropped from the highs of the morning American session at 1.2653, shedding a figure and tested the level of 1.2500. At the moment of writing, the pair was trading around 1.2519, having lost 0.7% intraday and remaining under strong bearish pressure. The price collapse was triggered by the hawkish monetary policy verdict of the Bank of Canada. The central bank decided to change the size of the QE program. Volumes of weekly purchases of government bonds were reduced from the current C$4 billion to C$3 billion. Our Analysis: Provided that the currency pair is traded below 1.2520, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2500 Take Profit 1: 1.2480 Take Profit 2: 1.2455 Alternative scenario: In case of breakout of the level 1.2520, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2520  Take Profit 1: 1.2545 Take Profit 2: 1.2570 Learn More Trading Analysis of GOLD/USD Gold futures prices surged in U.S. trading on Wednesday. On COMEX, a division of the New York Mercantile Exchange, gold futures for June are trading at $1,793.15 per troy ounce, up 0.83%. At the moment of writing, gold had support at $1.740.10 and resistance at $1.798.25. Our Analysis: Provided that the price is above 1782.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1794.00 Take Profit 1: 1806.00 Take Profit 2: 1817.00 Alternative scenario: In case of breakdown of the level 1782.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1782.00   Take Profit 1: 1775.00 Take Profit 2: 1766.00 Learn More Fundamental Trading Analysis of IBM  International Business Machines did not disappoint analysts and experts when it reported its first-quarter earnings earlier this week. The century-old technology giant recovered the revenue growth and exceeded both top-and bottom-line analyst estimates. A strong increase in cloud computing and solid mainframe performance contributed to that. Our Analysis: Provided that the price is above 129.40, follow these recommendations: Time frame: D1 Recommendation: long position Entry point: 133.00 Take Profit 1: 150.00 Take Profit 2: 155.00  Alternative scenario: In case of breakdown of the level 129.40, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 129.40  Take Profit 1: 125.30 Take Profit 2: 122.80 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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