Daily Trading Analysis 09.05.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD Rising crude oil prices supported the Canadian dollar and put pressure on USD/CAD amid a modest pullback in the US dollar from a two-decade high. Our Analysis: While the price is above 1.2715, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2948 Take Profit 1: 1.3000 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 is falling to a multi-day low, closer to 0.7050. Our Analysis: Provided that the currency pair is below 0.7300, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7002 Take Profit 1: 0.6965 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 IBM April was pretty challenging for the stock market as a whole, but International Business Machines succeeded in reversing the momentum. While the S&P 500 fell 8.8% for the month, a robust earnings report drove IBM stock up 1.7%, as per S&P Global Market Intelligence. Our Analysis: As long as the price is above 131.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 137.42 Take Profit 1: 141.00 Take Profit 2: 145.00 Alternative scenario: If the level of 131.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 131.80 Take Profit 1: 127.50 Take Profit 2: 125.00 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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