Daily Trading Analysis 05.07.2022

Technical & Fundamental analysis

Trading Analysis of NZD/USD During June, the New Zealand dollar depreciated against the US dollar from 0.6502 to 0.6227. MUFG Bank economists expect the NZD/USD pair to remain under pressure this quarter and to start rising again by the end of the year. Our Analysis: While the price is below 0.6365, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6220 Take Profit 1: 0.6175 Take Profit 2: 0.6050 Alternative scenario: If the level 0.6365 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6365 Take Profit 1: 0.6475 Take Profit 2: 0.6565 Learn More Trading Analysis of EUR/USD The EUR/USD pair lost more than 100 pips last week. ING economists think the pair could repeat the May lows. Our Analysis: While the price is below 1.0650, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0446 Take Profit 1: 1.0350 Take Profit 2: 1.0200 Alternative scenario: If the level 1.0650 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0650 Take Profit 1: 1.0800 Take Profit 2: 1.0940 Learn More Fundamental Trading Analysis of Bitcoin Bitcoin continued its prolonged decline last month. According to S&P Global Market Intelligence, the largest cryptocurrency fell 36.7%, Our Analysis: As long as the price is below 21500.00, follow the recommendations below: Time frame: D1 Recommendation: Short position Entry point: 20233.00 Take Profit 1: 17000.00 Take profit 2: 13000.00 Alternative scenario: If the level of 21500.00 is broken-out, follow the recommendations below:: Time frame: D1 Recommendation: long position Entry point: 21500.00 Take Profit 1: 25200.00 Take Profit 2: 29000.00 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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