Daily Trading Analysis 10.08.2021

Technical & Fundamental analysis

Trading Analysis of EUR/USD EUR/USD: The ECB dovish mood might cause a fall to 1.17 - ING. Our Analysis: While the price is below 1.1980, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1737 Take Profit 1: 1.1700 Take Profit 2: 1.1600 Alternative scenario: If the level 1.1980 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1980 Take Profit 1: 1.2100 Take Profit 2: 1.2190 Learn More Trading Analysis of GBP/USD GBP/USD will not be able to break above 1.40 - ING. Our Analysis: While the price is below 1.3960, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3867 Take Profit 1: 1.3735 Take Profit 2: 1.3570 Alternative scenario: If the level 1.3960 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3960 Take Profit 1: 1.4090 Take Profit 2: 1.4240 Learn More Fundamental Trading Analysis of Chevron  Oil prices are rising sharply as demand recovers from the economic downturn caused by the coronavirus. Chevron stock is up about 25 percent in 2021 as the company undoubtedly benefits from a global economic recovery and a rebound in tourism. The company recently reported a net income of $3.1 billion and free cash flow of more than $5 billion in the second quarter, nearly completely because of a recovery in demand for the fuel that moves people and goods around the world and generates the electricity on which the modern world depends. Our Analysis: While the price is above 98.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 101.95 Take Profit 1: 108.00 Take Profit 2: 110.70 Alternative scenario: If the level 98.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 98.00 Take Profit 1: 93.60 Take Profit 2: 90.80 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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