Daily Trading Analysis 12.05.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England must raise rates to 2.5% next year to curb inflation - FT. Our Analysis: While the price is below 1.6320, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5990 Take Profit 1: 1.5800 Take Profit 2: 1.5700 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 Commodity currencies remain vulnerable to further correction in the short term - MUFG. Our Analysis: As long as price is below 1.3750 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3672 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 Bitcoin Bitcoin dropped below $29,000 yesterday. According to CoinMarketCap, it fell to $28,170 in the afternoon, lower than at any time in 2021. Our Analysis: As long as the price is below 34300.00, follow the recommendations below: Recommendation: long position Entry point: 27040.00 Take Profit 1: 25000.00 Take profit 2: 23000.00 Alternative scenario: If the level of 34300.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 34300.00 Take Profit 1: 41800.00 Take Profit 2: 45600.00 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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