Daily Trading Analysis 02.06.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of Canada (BoC) is set to raise interest rates for the third consecutive meeting. ING economists are expecting 50bp from the BoC today, but a 75bp increase is possible. Our Analysis: While the price is below 1.5950, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5827 Take Profit 1: 1.5700 Take Profit 2: 1.5600 Alternative scenario: If the level 1.5950 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5950 Take profit 1: 1.6200 Take Profit 2: 1.6300 Learn More Trading Analysis of EUR/CAD The expectation that the Bank of Canada (BoC) will raise its key rate by another 50 bps has been largely built into prices. Commerzbank economists expect the Loonie to be unimpressed by the central bank's decision. Our Analysis: As long as price is above 1.3440 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3511 Take Profit 1: 1.3600 Take Profit 2: 1.3770 Alternative scenario: If the level of 1.3440 is broken-down, follow the recommendations below:                          Time frame: D1 Recommendation: short position Entry point: 1.3440 Take profit 1: 1.3385 Take Profit 2: 1.3300 Learn More Fundamental Trading Analysis of Pfizer This year is sure to be a strong one for Pfizer. Our Analysis: As long as the price is above the 50.50 level, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 52.44 Take Profit 1: 55.00 Take Profit 2: 57.30 Alternative scenario: If the level of 50.50 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 50.50 Take Profit 1: 47.00 Take Profit 2: 45.00 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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