Daily Trading Analysis 05.09.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD crosses a downward sloping resistance line from Thursday during Monday’s Asian session, grinds higher around the intraday top of 1.3152 by the press time. Our Analysis: While the price is above 1.3000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3122 Take Profit 1: 1.3200 Take Profit 2: 1.3300 Alternative scenario: If the level 1.3000 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3000 Take Profit 1: 1.2900 Take Profit 2: 1.2800 Learn More Trading Analysis of AUD/USD The AUD/USD pair is displaying topsy-turvy moves in a narrow range of 0.6774-0.6800 in the Asian session. After a gap down open, the aussie bulls attempted a break above the critical hurdle of 0.6800, however, the risk-off market tone strengthened the greenback bulls. Our Analysis: Provided that the currency pair is below 0.6850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6775 Take Profit 1: 0.6700 Take Profit 2: 0.6600 Alternative scenario: In case of a broken-out of the level 0.6850, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6850 Take Profit 1: 0.7000 Take Profit 2: 0.7070 Learn More Fundamental Trading Analysis of Home Depot The spike in inflation that began months ago hit consumers' wallets and forced the U.S.  Our Analysis: As long as the price is above 287.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 291.67 Take Profit 1: 307.00 Take Profit 2: 320.00 Alternative scenario: If the level of 287.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 287.00 Take Profit 1: 280.00 Take Profit 2: 270.00 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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