Daily Trading Analysis 02.07.2021

Technical & Fundamental analysis

Trading Analysis of EUR/USD The EUR/USD might return to 1.1800 area in the coming weeks, currency strategists from UOB Group suggested. Our Analysis: While the price is below 1.2020, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1916 Take Profit 1: 1.1775 Take Profit 2: 1.1700 Alternative scenario: If the level 1.2020 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2020 Take Profit 1: 1.2095 Take Profit 2: 1.2190 Learn More Trading Analysis of GBP/USD Bank of England, Bailey: we have reason to expect the rise in inflation to be temporary. Our Analysis: While the price is below 1.4075, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3906 Take Profit 1: 1.3670 Take Profit 2: 1.3500 Alternative scenario: If the level 1.4075 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4075 Take Profit 1: 1.4240 Take Profit 2: 1.4380 Learn More Fundamental Trading Analysis of Tesla  Since the release of its first Roadster in 2008, Tesla has not been looking back. Over the years, the company has proved many of its skeptics wrong. Tesla rightfully deserves praise for its ongoing transformation of the auto industry from internal combustion engine vehicles to electric vehicles. The company is already a threat to the decades-long dominance of legacy car companies. Let's take a look at where Tesla could be in 10 years. Our Analysis: While the price is above 642.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 680.76 Take Profit 1: 740.00 Take Profit 2: 766.00 Alternative scenario: If the level 642.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 642.00 Take Profit 1: 599.00 Take Profit 2: 573.00 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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