Daily Trading Analysis 02.05.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD witnessed heavy selling on Friday and was under pressure from a combination of factors. Our Analysis: While the price is above 1.2715, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2859 Take Profit 1: 1.2900 Take Profit 2: 1.3100 Alternative scenario: If the level 1.2715 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2715 Take Profit 1: 1.2470 Take Profit 2: 1.2365 Learn More Trading Analysis of AUD/USD AUD/USD: weekly resistance and 100-HMA meet buyers around 0.7150. Our Analysis: Provided that the currency pair is below 0.7300, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7041 Take Profit 1: 0.6980 Take Profit 2: 0.6900 Alternative scenario: In case of break-down of the level 0.7300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7300 Take Profit 1: 0.7440 Take Profit 2: 0.7550 Learn More Fundamental Trading Analysis of Meta Platforms Meta Platforms shares gained 18% Friday after the company released its Q1 earnings report. Our Analysis: As long as the price is below 237.30, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 199.80 Take Profit 1: 165.50 Take Profit 2: 145.00 Alternative scenario: If the level of 237.30 is broken-out, follow the recommendations below:  Time frame: D1 Recommendation: long position Entry point: 237.30 Take Profit 1: 260.00 Take Profit 2: 288.60 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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