Daily Trading Analysis 29.08.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD The pair USD/CAD jumped up sharply on Friday after Powell's speech and on the background of a sharp decline in Wall Street stocks. The pair rose from 1.2920 to 1.3010 and made a two-day high. Our Analysis: While the price is below 1.2870, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2948 Take Profit 1: 1.3050 Take Profit 2: 1.3100 Alternative scenario: If the level 1.2870 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2870 Take Profit 1: 1.2790 Take Profit 2: 1.2735 Learn More Trading Analysis of AUD/USD The AUD/USD dropped on Friday and lost some of the strong gains of the previous day to 0.7000, which corresponds to the weekly high. The pair remains under pressure during the first half of the European session, although it manages to find support around 0.6950 and regain some pips from the daily low. Our Analysis: Provided that the currency pair is above 0.6850, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6958 Take Profit 1: 0.7000 Take Profit 2: 0.7165 Alternative scenario: In case of a break-down of the level 0.6850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6850 Take Profit 1: 0.6700 Take Profit 2: 0.6600 Learn More Fundamental Trading Analysis of Pfizer Pharmaceutical behemoth Pfizer made huge profits as one of the leading manufacturers of the COVID-19 vaccine during the pandemic. However, there are signs that demand for vaccines is inevitably falling. Our Analysis: As long as the price is below the 50.00 level, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 47.84 Take Profit 1: 47.00 Take Profit 2: 46.00 Alternative scenario: If the level of 50.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 50.00 Take Profit 1: 51.00 Take Profit 2: 52.00 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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