Daily Trading Analysis 05.05.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Although the Bank of Canada (BoC) may accelerate rate hikes in the coming months, this is unlikely to lift the CAD, economists at Commerzbank report. Our Analysis: While the price is below 1.6320, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5986 Take Profit 1: 1.5900 Take Profit 2: 1.5800 Alternative scenario: If the level 1.6320 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6320 Take profit 1: 1.6510 Take Profit 2: 1.6705 Learn More Trading Analysis of EUR/CAD Canada: the international trade surplus shrank to C$2.49 billion in March from the expected C$3.9 billion. Our Analysis: As long as price is below 1.3750 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3508 Take Profit 1: 1.3400 Take Profit 2: 1.3200 Alternative scenario: If the level of 1.3750 is broken-out, follow the recommendations below:          Time frame: D1 Recommendation: long position Entry point: 1.3750 Take profit 1: 1.3985 Take Profit 2: 1.4160 Learn More Fundamental Trading Analysis of General Electric General Electric investors felt depressed after the industrial titan posted its Q1 earnings. Financial results were rather disappointing, and the full-year outlook also disappointed investors.  Our Analysis: As long as the price is below the 87.90 level, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 80.20 Take Profit 1: 72.50 Take Profit 2: 68.00 Alternative scenario: If the level of 87.90 is broken-out, follow the recommendations below:  Time frame: D1 Recommendation: long position Entry point: 87.90 Take Profit 1: 93.70 Take Profit 2: 101.50 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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