Daily Trading Analysis 24.02.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Bank of England: there will be a 25 basis points rate hike - Scotiabank. Our Analysis: While the price is above 1.6772, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7188 Take Profit 1: 1.7250 Take Profit 2: 1.7584 Alternative scenario: If the level 1.6772 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6772 Take profit 1: 1.6408 Take Profit 2: 1.6192 Learn More Trading Analysis of EUR/CAD Canada: consumer price index rising to 5.1% y/y in January compared to expectations of 4.8%. Our Analysis: As long as price is above 1.4172 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4389 Take Profit 1: 1.4700 Take Profit 2: 1.4840 Alternative scenario: If the level of 1.4172 is broken-down, follow the recommendations below:          Time frame: D1 Recommendation: short position Entry point: 1.4172 Take profit 1: 1.3995 Take Profit 2: 1.3826 Learn More Fundamental Trading Analysis of Home Depot Home Depot shares fell slightly in morning trading Tuesday after the company released earnings data for the fourth quarter and fiscal year 2021.  Our Analysis: As long as price is below 345.00, follow the recommendations below Time frame: D1 Recommendation: short position Entry point: 307.70 Take Profit 1: 300.00 Take Profit 2: 270.00 Alternative scenario: If the level of 345.00 is broken-out, follow the recommendations below:            Time frame: D1 Recommendation: long position Entry point: 345.00 Take Profit 1: 375.00 Take Profit 2: 395.00 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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