Daily Trading Analysis 29.07.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CHF The Bank of England (BoE) is likely to shy away from an aggressive interest rate hike in August and instead stick with a more modest 25 basis point increase, but the odds of both outcomes are almost equal, according to the latest Reuters poll of economists. Our Analysis: While the price is below 1.1750, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1603 Take Profit 1: 1.1500 Take Profit 2: 1.1400 Alternative scenario: If the level of 1.1750 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1750 Take profit 1: 1.1860 Take profit 2: 1.2000 Learn More Trading Analysis of NZD/CAD Analysts at TD Securities (TDS) offered a brief overview of Canada's monthly GDP report, which is expected to show that the economy contracted 0.2% in May. Our Analysis: As long as the price is below 0.8165 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8084 Take Profit 1: 0.7950 Take Profit 2: 0.7900 Alternative scenario: If the level of 0.8165 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8165 Take profit 1: 0.8250 Take profit 2: 0.8350 Learn More Fundamental Trading Analysis of Home Depot The stock market decline in 2022 reflected mirrored the decline in the gross domestic product (GDP), a key indicator that measures the value of goods and services produced by an economy. In the first quarter, real GDP (adjusted for inflation) fell 1.6%. Our Analysis: As long as the price is above 295.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 299.40 Take Profit 1: 310.00 Take Profit 2: 318.00 Alternative scenario: If the level of 295.00 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 295.00 Take Profit 1: 290.00 Take Profit 2: 283.00 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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