Daily Trading Analysis 25.05.2021

Technical & Fundamental analysis

Trading Analysis of AUD/USD According to Reuters, analysts at HSBC believe that the Central Bank of Australia will lag behind other leading global banks in tightening monetary policy. HSBC admits that:  Australia is among the countries most effectively coping with the pandemic; The economy is recovering with strong growth momentum; Unemployment is close to pre-covid levels; Consumer spending and home prices are booming; Consumer and business confidence indicators are upbeat. Our Analysis: Provided that the currency pair is traded above 0.7740, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.7757 Take Profit 1: 0.7780 Take Profit 2: 0.7800 Alternative scenario: In case of breakdown of the level 0.7740, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7740 Take Profit 1: 0.7725 Take Profit 2: 0.7710 Learn More Trading Analysis of Nasdaq 100 Index The major Wall Street indices rose on Monday, with the Nasdaq index up about 1%. Risk appetite also improved as cryptocurrencies took a back seat after Sunday's sell-off. The Dow Jones Industrial Average index rose 165.59 points or 0.48%. Our Analysis: Provided that the index is traded above 13405.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 13662.00 Take Profit 1: 13830.00 Take Profit 2: 13935.00 Alternative scenario: In case of breakdown of the level 13405.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 13405.00   Take Profit 1: 13235.00 Take Profit 2: 12995.00 Learn More Fundamental Trading Analysis of Home Depot Home Depot, the world's biggest home improvement business, shows no signs of losing its momentum. The Atlanta-based company recently announced revenue and earnings growth for the first quarter of the fiscal year 2021 of 32.7% and 84.6%, respectively.  Our Analysis: Provided that the company is traded below 329.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 315.00 Take Profit 1: 301.00 Take Profit 2: 294.00 Alternative scenario: In case of breakout of the level 329.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 329.00  Take Profit 1: 340.00 Take Profit 2: 347.00 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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