Daily Trading Analysis 10.06.2021

Technical & Fundamental analysis

Trading Analysis of GBP/USD GBP/USD rising to 1.4200 on statements by the Bank of England's chief economist. Our Analysis: While the price is above 1.3970, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4185 Take Profit 1: 1.4240 Take Profit 2: 1.4380 Alternative scenario: If the level 1.3970 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3970 Take Profit 1: 1.3800 Take Profit 2: 1.3670 Learn More Trading Analysis of EUR/USD Reuters reported citing informed sources that ECB officials will hold a three-day meeting starting on June 18 in which they will review the bank's strategy. Our Analysis: While the price is above 1.1980, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2185 Take Profit 1: 1.2350 Take Profit 2: 1.2450 Alternative scenario: If the level 1.1980 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1980 Take Profit 1: 1.1880 Take Profit 2: 1.1775 Learn More Fundamental Trading Analysis of Amazon  Amazon continues to attract attention, setting sales records and opening new lines of business. The tech giant is gradually turning attention to the healthcare sector. Our Analysis: While the price is below 3308.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3206.00 Take Profit 1: 3068.00 Take Profit 2: 3000.00 Alternative scenario: If the level 3308.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 3308.00 Take Profit 1: 3421.00 Take Profit 2: 3488.00 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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