Daily Trading Analysis 09.09.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CHF Sterling was modestly lower against the other major currencies. Our Analysis: While the price is below 1.1500, follow the recommendations below: me frame: D1 Recommendation: short position Entry point: 1.1159 Take Profit 1: 1.1100 Take Profit 2: 1.1000 Alternative scenario: If the level of 1.1500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1500 Take profit 1: 1.1650 Take profit 2: 1.1780 Learn More Trading Analysis of NZD/CAD As was widely expected, the Canadian central bank hiked its benchmark rates by 75 bps and also maintained a hawkish bias, indicating the need to raise interest rates further. This, in turn, provided a goodish lift to the domestic currency. Our Analysis: As long as the price is below 0.8070 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7926 Take Profit 1: 0.7900 Take Profit 2: 0.7850 Alternative scenario: If the level of 0.8070 is broken-out, follow the recommendations below:    Time frame: D1 Recommendation: long position Entry point: 0.8070 Take profit 1: 0.8125 Take profit 2: 0.8180 Learn More Fundamental Trading Analysis of 3M Shares of industrial conglomerate 3M ended July on impressive notes but failed to maintain momentum. They were down 13.2% in August, according to S&P Global Market Intelligence. Our Analysis: As long as the price is below 125.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 119.42 Take Profit 1: 115.00 Take Profit 2: 110.00 Alternative scenario: If the level of 125.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 125.00 Take Profit 1: 132.00 Take Profit 2: 139.00 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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