Daily Trading Analysis 06.09.2022

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD bulls approach the 50-SMA hurdle, after crossing the falling wedge’s resistance line, during Tuesday’s Asian session. In doing so, the Kiwi pair prints the biggest daily gains in over a week during the three-day uptrend, up 0.38% intraday near 0.6115 by the press time. Our Analysis: While the price is below 0.6205, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6086 Take Profit 1: 0.6050 Take Profit 2: 0.5950 Alternative scenario: If the level 0.6205 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6205 Take Profit 1: 0.6330 Take Profit 2: 0.6400 Learn More Trading Analysis of EUR/USD The chances for EUR/USD to close below 0.9900 seem to have lost traction in past sessions, note FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang. Our Analysis: While the price is below 1.0150, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.9928 Take Profit 1: 0.9850 Take Profit 2: 0.9800 Alternative scenario: If the level 1.0150 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0150 Take Profit 1: 1.0260 Take Profit 2: 1.0350 Learn More Fundamental Trading Analysis of Amazon Amazon has been the undisputed king of e-commerce for years. The industry has been changing in unpredictable ways lately, spurred on by unforeseen events. Our Analysis: As long as the price is above 123.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 127.37 Take Profit 1: 131.50 Take Profit 2: 137.00 Alternative scenario: If the level of 123.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 123.00 Take Profit 1: 118.00 Take Profit 2: 113.00 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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