Daily Trading Analysis 24.11.2021

Technical & Fundamental analysis

Trading Analysis of EUR/JPY The Bank of Japan is considering the possibility of making changes to its post-pandemic support programs. Our Analysis: While the price is below 131.26, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 129.44 Take Profit 1: 128.50 Take Profit 2: 126.04 Alternative scenario: If the level 131.26 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 131.26 Take profit 1: 133.65 Take Profit 2: 135.07 Learn More Trading Analysis of GBP/JPY Head of the Bank of England, Bailey: I don't think we will come back to a clear statement of intent. Our Analysis: As long as price is below 157.09 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 153.96 Take profit 1: 152.50 Take Profit 2: 148.94 Alternative scenario: If the level of 157.09 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 157.09 Take profit 1: 160.74 Take profit 2: 162.91 Learn More Fundamental Trading Analysis of Alibaba Alibaba shares fell 11% last week after the Chinese e-commerce and cloud leader released its Q2 earnings report. The company's revenue increased 29% YoY to $31.1 billion, $673 million less than forecasts.  Our Analysis: As long as the price is below 154.50, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 133.00 Take Profit 1: 126.30 Take Profit 2: 119.30 Alternative scenario: If the level of 154.50 is broken-out, follow the recommendations below:  Time frame: D1 Recommendation: long position Entry point: 154.50 Take Profit 1: 166.50 Take Profit 2: 173.60 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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