Daily Trading Analysis 21.05.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD Kaplan: monetary policy needs to be adapted given the financial situation: Expects the RCE to be overvalued, at least in 2021; Uncertainty will remain; Need to start discussing winding down on the back of progress in the economy and recovery from the pandemic. Our Analysis: Provided that the currency pair is traded above 1.2050, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2074 Take Profit 1: 1.2095 Take Profit 2: 1.2115 Alternative scenario: In case of breakdown of the level 1.2050, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2050  Take Profit 1: 1.2035 Take Profit 2: 1.2015 Learn More Trading Analysis of S&P 500 Index Wall Street's main indices rebounded on Thursday after a three-day decline, driven by advances in technology stocks, as the smallest weekly jobless claims since the start of the pandemic recession boosted appetite for risk. The Dow Jones index rose 0.51% to 34,067.55 points. Our Analysis: Provided that the index is traded above 4127.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 4165.00 Take Profit 1: 4205.00 Take Profit 2: 4236.00 Alternative scenario: In case of breakdown of the level 4127.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 4127.00   Take Profit 1: 4087.00 Take Profit 2: 4056.00 Learn More Fundamental Trading Analysis of Chevron Despite strengthening commodity prices, the energy sector remains far from favorable. However, for investors with opposing views, it is a prospective chance to buy. The difficulty is that energy companies still have some very real problems to deal with. That's why energy giant Chevron is one of the best options in this area. Here are some circumstances to support this idea. Our Analysis: While the price is above 102.20, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 106.18 Take Profit 1: 114.90 Take Profit 2: 117.90 Alternative scenario: If the level 102.20 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 102.20  Take Profit 1: 97.40 Take Profit 2: 94.50 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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