Daily Trading Analysis 08.11.2021

Technical & Fundamental analysis

Trading Analysis of USD/CAD The DXY index continues to rise and the USD/CAD pair retreated again after the US Non-Farm Payrolls surpassed expectations and the US dollar rose to daily highs. Our Analysis: While the price is below 1.2610, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2448 Take Profit 1: 1.2300 Take Profit 2: 1.2180 Alternative scenario: If the level 1.2610 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2610 Take Profit 1: 1.2770 Take Profit 2: 1.2895 Learn More Trading Analysis of AUD/USD The AUD/USD pair failed to capitalize on Friday's rebound from multi-week peak lows after the NFP report and traded in a range on the first day of the new week. Against the backdrop of an upbeat US jobs report, a strong rise in US Treasury bond yields was a tailwind for the US dollar and limited the AUD/USD's upside potential. Our Analysis: Provided that the currency pair is traded above 0.7280, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7398 Take Profit 1: 0.7600 Take Profit 2: 0.7720 Alternative scenario: In case of break-down of the level 0.7280, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7280 Take Profit 1: 0.7165 Take Profit 2: 0.7100 Learn More Fundamental Trading Analysis of Pfizer Pfizer has grown an authority at being first. The pharmaceutical behemoth was the pioneer to introduce a coronavirus vaccine a year ago. Our Analysis: As long as the price is above the 43.40 level, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 48.62 Take Profit 1: 49.50 Take Profit 2: 50.40 Alternative scenario: If the level of 43.40 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 43.40 Take Profit 1: 41.90 Take Profit 2: 41.10 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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