Daily Trading Analysis 04.08.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The latest PMI data showed another slowdown in Canadian manufacturing sector conditions. The PMI is at its lowest level in two years. Our Analysis: While the price is below 1.5680, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5593 Take Profit 1: 1.5340 Take Profit 2: 1.5200 Alternative scenario: If level 1.5680 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5680 Take profit 1: 1.5810 Take Profit 2: 1.5940 Learn More Trading Analysis of EUR/CAD Canada: The Manufacturing PMI will decline to 52.5 in July compared to expectations of 55.7. Our Analysis: As long as the price is below 1.3260 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3045 Take Profit 1: 1.2975 Take Profit 2: 1.2850 Alternative scenario: If the level of 1.3260 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3260 Take profit 1: 1.3390 Take Profit 2: 1.3510 Learn More Fundamental Trading Analysis of Pfizer So far this year has not been kind to stock markets. And while many drug makers have avoided a selloff, Pfizer is not one of them. Our Analysis: As long as the price is above the 49.00 level, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 49.93 Take Profit 1: 53.00 Take Profit 2: 55.00 Alternative scenario: If the level of 49.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 49.00 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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