Friday, February 4, 2022

Daily Trading Analysis 04.02.2022

Trading Analysis of GBP/CHF
Bank of England Governor Bailey: after Covid-adjusted, underlying wage growth is stronger than might have been expected.







Our Analysis:

While the price is above 1.2104, follow the recommendations below:
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.2510
  • Take Profit 1: 1.2654
  • Take Profit 2: 1.2760

Alternative scenario:

If the level 1.2104 is broken-down, follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.2104
  • Take profit 1: 1.1837
  • Take profit 2: 1.1678
Trading Analysis of NZD/CAD
Kiwi has been declining in recent months. Analysts at MUFG Bank expect the currency to recover in 2022, as the RBNZ has plenty of room for rate hikes.



Our Analysis:

As long as price is below 0.8615 follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 0.8459
  • Take Profit 1: 0.8350
  • Take Profit 2: 0.8298

Alternative scenario:

If the level of 0.8615 is broken-out, follow the recommendations below::         
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 0.8615
  • Take profit 1: 0.8753
  • Take profit 2: 0.8835
Fundamental Trading
Analysis of Ethereum
Ethereum (ETH) is the second-largest cryptocurrency by market capitalization, which at the time of writing is over $314 billion.







Our Analysis:

As long as the price is above 3050.00, follow the recommendations below:
  • Time frame: D1
  • Recommendation: short position
  • Entry point: 2766.00
  • Take Profit 1: 2115.00
  • Take Profit 2: 1340.00

Alternative scenario:

If the level of 3050.00 is broken-down, follow the recommendations below:   
  • Time frame: D1
  • Recommendation: long position
  • Entry point: 3050.00
  • Take Profit 1: 4065.00
  • Take Profit 2: 4870.00

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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