Daily Trading Analysis 17.08.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD The decline in oil prices has undermined the demand for the Canadian dollar and helped the USD/CAD gain momentum. Our Analysis: Provided that the currency pair is traded above 1.2420, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2516 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 The RBNZ will raise rates by 25 bps on Wednesday. - Reuters poll. Our Analysis: While the price is below 0.7085, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7040 Take Profit 1: 0.6880 Take Profit 2: 0.6800 Alternative scenario: If the level 0.7085 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7085 Take Profit 1: 0.7160 Take Profit 2: 0.7240 Learn More Fundamental Trading Analysis of Verizon  Verizon Communications is having a great time in 2021. The company's second-quarter revenue rose an impressive 10.9% year-over-year, but given the negative impact of last year's pandemic, this growth was to be expected. Notably, Verizon also outperformed second-quarter 2019 by 5.3 percent, despite the continued negative impact of COVID-19. Our Analysis: As long as the price is above 55.20, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 55.87 Take profit 1: 56.80 Take Profit 2: 57.20 Alternative scenario: If the level of 55.20 is broken-down, follow the recommendations below:    Time frame: D1 Recommendation: short position Entry point: 55.20 Take Profit 1: 54.50 Take Profit 2: 54.10 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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