Trading Analysis for Bank of America

Trading Analysis for Bank of America

Written by: PaxForex analytics dept - Tuesday, 24 March 2020 0 comments

The price is below the moving average of 20 MA and MA 200, indicating the downward trend. 
MACD is below the zero levels.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position 17.90
  • Take Profit Level: 16.80 (110 pips)

If the price rebound from the support level, you shall follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position 21.70
  • Take Profit Level: 22.30 (50 pips)

GOLD
A possible long position at the breakout of the level 1596.00

USDCHF
A possible short position in the breakdown of the level 0.9720

GBPUSD
A possible long position at the breakout of the level 1.1750

USDJPY
A possible short position in the breakdown of the level 109.90