Daily Trading Analysis 06.05.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CHF The GBP is losing its appeal amid mixed statements from the Bank of England - TDS. Our Analysis: While the price is below 1.2275, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2201 Take Profit 1: 1.2100 Take Profit 2: 1.1980 Alternative scenario: If the level 1.2275 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2275 Take profit 1: 1.2400 Take profit 2: 1.2500 Learn More Trading Analysis of NZD/CAD The Loonie is getting support from rising crude oil prices as commodity traders focus on the EU authorities' discussion of the ban on Russian oil imports. Our Analysis: As long as price is below 0.8350 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8235 Take Profit 1: 0.8170 Take Profit 2: 0.8100 Alternative scenario: If the level of 0.8350 is broken-out, follow the recommendations below:          Time frame: D1 Recommendation: long position Entry point: 0.8350 Take profit 1: 0.8500 Take profit 2: 0.8575 Learn More Fundamental Trading Analysis of 3M 3M has baffled investors. It's no secret that the industrial sector has suffered from soaring raw material prices, persistent supply chain problems, and component shortages. Our Analysis: As long as the price is below the 154.00 level, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 149.21 Take Profit 1: 140.00 Take Profit 2: 135.00 Alternative scenario: If the level of 154.00 is broken-out, follow the recommendations below:          Time frame: D1 Recommendation: long position Entry point: 154.00 Take Profit 1: 160.50 Take Profit 2: 168.70 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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