Daily Trading Analysis 03.08.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD rose to 1.2502 during the U.S. session despite the decline in the U.S. dollar across the market spectrum. Our Analysis: Provided that the currency pair is traded above 1.2380, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2515 Take Profit 1: 1.2750 Take Profit 2: 1.2880 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 On Monday, the NZD/USD pair attracted some buyers around 0.6950 amid renewed selling of the US dollar. Our Analysis: While the price is below 0.7095, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6972 Take Profit 1: 0.6880 Take Profit 2: 0.6800 Alternative scenario: If the level 0.7095 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7095 Take Profit 1: 0.7210 Take Profit 2: 0.7315 Learn More Fundamental Trading Analysis of Amazon Amazon's stock price fell almost 8% on July 30 after the company released its second-quarter earnings report. The company's revenue growth did not meet analysts' expectations, and the company reported a lower-than-expected earnings outlook for the third quarter. Our Analysis: While the price is below 3506.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 3506.00 Take Profit 1: 3105.00 Take Profit 2: 3003.00 Alternative scenario: If the level 3506.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 3506.00 Take Profit 1: 3678.00 Take Profit 2: 3782.00 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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