Daily Trading Analysis 03.05.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Canada: GDP has been growing for 10 months in a row: Canada: February, GDP 0.4% m/m vs forecast of 0.5% and previous +0.7%; GDP y/y -2.2% vs. forecast -2.3% and previous -2.3%; Growth was registered in 14 out of 20 sectors of the economy; The index rose for the 10th consecutive month, offsetting the sharp slump in economic activity in March and April 2020; However, economic activity still falls short of the 2% pre-February 2020 levels; Services sector +0.6%; goods production -0.2%; Preliminary estimates promise real GDP growth of about 0.9% in March. Our Analysis: Provided that the currency pair is traded above 1.2265, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2290 Take Profit 1: 1.2320 Take Profit 2: 1.2350 Alternative scenario: In case of breakdown of the level 1.2265, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2265  Take Profit 1: 1.2245 Take Profit 2: 1.2225 Learn More Trading Analysis of Nasdaq 100 Index The U.S. stock market closed Friday's trading lower on the back of the negative dynamics from the oil and gas, technology and raw materials sectors. The NASDAQ Composite Index was down 0.85% at the close of trading on the New York Stock Exchange. Our Analysis: Provided that the index is traded above 13750.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13876.00 Take Profit 1: 14050.00 Take Profit 2: 14220.00 Alternative scenario: In case of breakdown of the level 13750.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13750.00   Take Profit 1: 13525.00 Take Profit 2: 13200.00 Learn More Fundamental Trading Analysis of Intel  Shares of Intel recently fell after the chip maker released its first-quarter results. The company's revenue dropped 1% year-over-year to $19.7 billion, but still, beat analysts' forecasts by $1.75 billion. Our Analysis: While the price is below 60.90, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 57.70 Take Profit 1: 53.60 Take Profit 2: 51.70 Alternative scenario: If the level 60.90 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 60.90  Take Profit 1: 64.20 Take Profit 2: 66.10 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.

PaxForex | London, London, E16AN United Kingdom Unsubscribe edwardlorilla1986.paxforex@blogger.com Constant Contact Data Notice Sent by info@paxforex.org