Market Outlook

Daily Technical Analysis: McDonald’s Shares Hit ATH!

30-12-2021 08:28

ZFX – Today’s technical analysis will focus on Forex, Indices, American Stocks and Cryptocurrencies. Also, at the end of the article there is a GBPNZD trading idea (signal) that might be an insight for you.

Every afternoon in the London session, ZFX provides a technical analysis or outlook in the form of a video, don’t forget to check the analysis video on our YouTube channel!

So how about today’s Pre-London Analysis?

Before you start trading, you need to do some analysis first. Here’s a little summary of today’s market outlook (30/12/2021) brought to you from ZFX Analysts:

XAUUSD Technical Analysis – Commodities

Gold, on the daily timeframe, closed bearishly, although still above 1800. However, XAUUSD also left a long bottom-wick as a sign of rejection from the support area around 1790, which might wick-fill if it fails to pass the mini key level at 1805. However, it is still forming a higher low as long as it doesn’t cross the 1787 area.

BTCUSD Technical Analysis – Cryptocurrency

The discussion on the previous outlook showed signs of a double top from BTCUSD. The first ever crypto has crashed from the resistance and broke the double top neckline. Now Bitcoin will challenge a strong support on the daily timeframe, if it is broken, then it could touch $42,000.

McDonald’s Technical Analysis – American Stocks

McDonald’s stock has hit a new all-time-high! There is no resistance that will block MCD now but the target area in the psychological figures could be a target; 275 or 280 in the near future. The resistance that has just been broken by it may be a retest area for it to continue its rise again.

Trading Idea – GBPNZD (Buy Limit)

Order: Buy Limit
Entry: 1.96670
Stop Loss: 1.95532
Target 1: 1.97500 (50% + BE)
Target 2: 1.98500 (25%)
Target 3: 1.99750 (25%)
Risk total: 1-2% Equity (Medium Risk Setup)
Reason: Bullish + Trendline touches the confluence structure with resistance that will become a support.

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Disclaimer: Trading ideas by this website are provided as general market information for educational purposes. There is a risk of losing money in trading. Past performance is not necessarily indicative of future results.

Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.

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Devlon Horne