Daily Trading Analysis 20.07.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD After closing the second consecutive week in positive territory, USD/CAD kept its bullish momentum on Monday and reached its highest level since late January at 1.2805. Our Analysis: Provided that the currency pair is traded above 1.2380, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2757 Take Profit 1: 1.2880 Take Profit 2: 1.3030 Alternative scenario: In case of breakdown of the level 1.2380, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2380  Take Profit 1: 1.2250 Take Profit 2: 1.2130 Learn More Trading Analysis of NZD/USD RBNZ stays firm on rates, stops QE - UOB. Our Analysis: While the price is below 0.7120, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6997 Take Profit 1: 0.6800 Take Profit 2: 0.6680 Alternative scenario: If the level 0.7120 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7120 Take Profit 1: 0.7240 Take Profit 2: 0.7315 Learn More Fundamental Trading Analysis of Citigroup  For most of the past year, the Federal Reserve banned share buybacks and limited dividend payouts to ensure that banks had enough capital to deal with the uncertainty caused by the coronavirus pandemic. So naturally, once those restrictions were lifted on June 30, most of the big banks announced their intentions to raise dividends and increase share buybacks. Our Analysis: While the price is above 64.75, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 65.50 Take Profit 1: 74.30 Take Profit 2: 76.00 Alternative scenario: If the level 64.75 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 64.75 Take Profit 1: 62.50 Take Profit 2: 60.80 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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