Daily Trading Analysis 28.05.2021

Technical & Fundamental analysis

Trading Analysis of GBP/USD Reuters reports comments of the Bank of England's Vlieghe: It is not clear yet, whether negative rates can be lowered even more; If the economy needs more stimulus, negative rates can be used; Whether QE expansion will be needed depends on market conditions; Will not be a member of the МРС when the Bank of England decides to raise rates. Our Analysis: Provided that the currency pair is traded below 1.4215, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.4188 Take Profit 1: 1.4170 Take Profit 2: 1.4150 Alternative scenario: In case of breakout of the level 1.4215, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.4215 Take Profit 1: 1.4235 Take Profit 2: 1.4260 Learn More Trading Analysis of Dow Jones 30 Index The S&P 500 and Dow indices rose Thursday after weekly jobless claims data boosted optimism about the U.S. economic recovery. The S&P 500 index rose 0.29% to 4,208.06 points. Our Analysis: Provided that the index is traded above 34115.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 34313.00 Take Profit 1: 34745.00 Take Profit 2: 35085.00 Alternative scenario: In case of breakout of the level 34115.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 34115.00   Take Profit 1: 33865.00 Take Profit 2: 33475.00 Learn More Fundamental Trading Analysis of Citigroup  Last year was not an easy one for banks as they had to set aside billions of dollars to protect against potentially devastating credit losses due to the pandemic. However, thanks to quick action by the U.S. government and the Federal Reserve, the situation was not as bad as it could have been. Our Analysis: While the price is above 75.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 79.00 Take Profit 1: 83.90 Take Profit 2: 85.60 Alternative scenario: If the level 75.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 75.80 Take Profit 1: 73.20 Take Profit 2: 71.60 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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