Daily Trading Analysis 07.10.2021

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Canada's economy returned to growth as consumers began visiting restaurants and entertainment venues again, increasing spending on this service sector. According to Statistics Canada, gross domestic product rose 0.7% in August, following a 0.1% decline in July. Our Analysis: While the price is below 1.7489, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.7099 Take Profit 1: 1.6993 Take Profit 2: 1.6854 Alternative scenario: If the level 1.7489 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7489 Take profit 1: 1.7721 Take Profit 2: 1.7860 Learn More Trading Analysis of EUR/CAD ECB, Centeno: Inflation should decline if the impact of atypical factors is reduced. Our Analysis: As long as price is below 1.4826 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4578 Take Profit 1: 1.4500 Take Profit 2: 1.4329 Alternative scenario: As long as price is below 1.4826 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4826 Take profit 1: 1.5058 Take Profit 2: 1.5197 Learn More Fundamental Trading Analysis of Facebook Over the past few weeks, Facebook has been in the headlines for all the wrong reasons. In mid-September, The Wall Street Journal began publishing a series of investigative articles called "The Facebook Files," which criticized the social media giant for its business practices.   Our Analysis: As long as the price is below 348.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 333.00 Take Profit 1: 308.00 Take Profit 2: 298.00 Alternative scenario: If the level of 348.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 348.00 Take Profit 1: 364.00 Take Profit 2: 373.00 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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