Daily Trading Analysis 29.08.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD treads waters to continue winning streak, trades above 0.5900, focus on US data. Our Analysis: While the price is below 0.6120, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.5919 Take Profit 1: 0.5900 Take Profit 2: 0.5800 Alternative scenario: If level 0.6120 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6120 Take Profit 1: 0.6250 Take Profit 2: 0.6340 Learn More Trading Analysis of EUR/USD EUR/USD sticks to modest gains below mid-1.0800s, upside potential seems limited. Our Analysis: While the price is below 1.1100, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0823 Take Profit 1: 1.0750 Take Profit 2: 1.0650 Alternative scenario: If level 1.1100 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1000 Take Profit 1: 1.1065 Take Profit 2: 1.1150 Learn More Fundamental Trading Analysis of Amazon Amazon has achieved remarkable success since its inception in 1994. Our Analysis: As long as the price is above 125.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 132.30 Take Profit 1: 140.00 Take Profit 2: 150.00 Alternative scenario: If the level of 125.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 125.00 Take Profit 1: 120.00 Take Profit 2: 110.00 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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