Daily Trading Analysis 13.08.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD The USD/CAD is fluctuating below the 200-hour moving average. Our Analysis: Provided that the currency pair is traded above 1.2420, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2532 Take Profit 1: 1.2670 Take Profit 2: 1.2810 Alternative scenario: In case of breakdown of the level 1.2420, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2420 Take Profit 1: 1.2300 Take Profit 2: 1.2180 Learn More Trading Analysis of NZD/USD Fitch Ratings noted that they expect the RBNZ to raise the official money rate (OCR) at next week's monetary policy meeting. Our Analysis: While the price is above 0.6829, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6980 Take Profit 1: 0.7203 Take Profit 2: 0.7307 Alternative scenario: If the level 0.6829 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6829 Take Profit 1: 0.6655 Take Profit 2: 0.6552 Learn More Fundamental Trading Analysis of Pfizer Earlier this month, Pfizer announced promising first-line results from a Phase 2b/3 trial testing the JAK inhibitor ritecitinib for the treatment of alopecia(baldness), suggesting that the drug could finally be approved to treat this autoimmune disease that causes hair loss. Our Analysis: As long as the price is above 44.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 47.24 Take Profit 1: 49.80 Take Profit 2: 51.00 Alternative scenario: If the level of 44.80 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 44.80 Take Profit 1: 42.80 Take Profit 2: 41.60 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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