Daily Trading Analysis 07.02.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD A decline in the U.S. dollar should limit the growth of the pair amid rising oil prices supporting the Loonie. Our Analysis: While the price is below 1.2625, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2734 Take Profit 1: 1.2900 Take Profit 2: 1.3030 Alternative scenario: If the level 1.2625 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2625 Take Profit 1: 1.2485 Take Profit 2: 1.2360 Learn More Trading Analysis of AUD/USD AUD/USD is gaining demand for an intraday high update, breaking out the two-day downtrend. Our Analysis: Provided that the currency pair is below 0.7315, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7083 Take Profit 1: 0.6910 Take Profit 2: 0.6780 Alternative scenario: In case of break-out of the level 0.7315, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7315 Take Profit 1: 0.7400 Take Profit 2: 0.7500 Learn More Fundamental Trading Analysis of General Electric If you are a millennial or older generation, you probably at least faintly remember a time when the industrial conglomerate General Electric was one of the largest and most influential companies in the world. Our Analysis: As long as the price is above 90.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 98.76 Take Profit 1: 105.80 Take Profit 2: 109.50 Alternative scenario: If the level of 90.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 90.00 Take Profit 1: 84.00 Take Profit 2: 80.50 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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