Daily Trading Analysis 24.05.2021

Technical & Fundamental analysis

Trading Analysis of NZD/USD According to the Standard and Poor's rating agency, the federal budget of New Zealand presented today confirmed the expectations of S&P and became the confirmation that the economy of this country is recovering faster than most other developed economies. Our Analysis: Provided that the currency pair is traded above 0.7135, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7164 Take Profit 1: 0.7205 Take Profit 2: 0.7224 Alternative scenario: In case of breakdown of the level 0.7135, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7135  Take Profit 1: 0.7104 Take Profit 2: 0.7086 Learn More Trading Analysis of GOLD/USD On Friday, gold prices rose to the highest level since February after the publication of the U.S. labor market data, which did not meet expectations. At the same time, the weekly increase in prices of the precious metal may be the highest since November - about 4%. Our Analysis: Provided that the price is above 1822.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1832.00 Take Profit 1: 1843.00 Take Profit 2: 1855.00 Alternative scenario: In case of breakdown of the level 1822.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1822.00   Take Profit 1: 1817.00 Take Profit 2: 1799.00 Learn More Trading Analysis of Dow Jones 30 Index The Dow Jones and S&P 500 indices rose on Friday, continuing their recovery from the previous session, while strong business activity data improved sentiment at the end of a volatile trading week. Markit's preliminary Purchasing Managers' Index (PMI) for the U.S. manufacturing sector rose to 61.5 points in May from 60.5 points in April. The Dow Jones index rose 0.64% to 34,302.96 points. Our Analysis: Provided that the index is traded above 33770.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 34306.00 Take Profit 1: 34550.00 Take Profit 2: 35165.00 Alternative scenario: In case of breakout of the level 33770.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 33770.00   Take Profit 1: 33485.00 Take Profit 2: 33220.00 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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