Daily Trading Analysis 05.05.2021

Technical & Fundamental analysis

Trading Analysis of AUD/USD Following the conclusion of the RBA's monetary policy meeting, RBA Governor P. Lowe presented a monetary policy statement that confirmed that the central bank has no plans to raise the rate until actual inflation settles on a sustainable 2-3% target range, and the regulator does not think it can happen before 2024: The central GDP scenario has been revised upward to 4.75% for 2021 and 3.5% for 2022; The unemployment rate will continue to decline to about 5% by the end of the year and 4.5% by the end of 20222; The RBA will consider the fate of the 3-year bond yield target at its July meeting - possibly selecting assets with maturities other than April 2024. Our Analysis: Provided that the currency pair is traded above 0.7710, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7735 Take Profit 1: 0.7750 Take Profit 2: 0.7770 Alternative scenario: In case of breakdown of the level 0.7710, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7710 Take Profit 1: 0.7695 Take Profit 2: 0.7675 Learn More Trading Analysis of S&P 500 Index U.S. stock indices closed Tuesday's trading with multidirectional changes. Investors were assessing the statement of U.S. Treasury Secretary Janet Yellen, who said that the Federal Reserve may have to raise interest rates to prevent the U.S. economy from overheating if the fiscal spending programs proposed by U.S. President Joe Biden's administration are implemented. The Standard & Poor's 500 fell 28 points (0.67%) to 4164.66 points. Our Analysis: Provided that the index is traded below 4178.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 4149.00 Take Profit 1: 4118.00 Take Profit 2: 4090.00 Alternative scenario: In case of breakout of the level 4178.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 4178.00   Take Profit 1: 4219.00 Take Profit 2: 4250.00 Learn More Fundamental Trading Analysis of Pfizer  Yesterday Pfizer announced its first-quarter results. Despite a successful quarter, the pharmaceutical company's stock declined slightly in early trading. Let's recap the highlights from Pfizer's first-quarter report. Our Analysis: While the price is above 38.50, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 39.95 Take Profit 1: 41.60 Take Profit 2: 42.30 Alternative scenario: If the level 38.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 38.50  Take Profit 1: 37.30 Take Profit 2: 36.70 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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