Daily Trading Analysis 31.10.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD is in the hands of the bears within a descending channel on the daily time frame. Our Analysis: While the price is above 1.3600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3619 Take Profit 1: 1.3980 Take Profit 2: 1.4100 Alternative scenario: If the level 1.3600 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3600 Take Profit 1: 1.3500 Take Profit 2: 1.3300 Learn More Trading Analysis of AUD/USD The AUD/USD pair once again shows some resilience below the 0.6400 mark and attracts some dip-buying during the Asian session on Monday, though the uptick lacks follow-through. Our Analysis: Provided that the currency pair is below 0.6520, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6415 Take Profit 1: 0.6100 Take Profit 2: 0.6000 Alternative scenario: In case of a broken-out of the level 0.6520, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6520 Take Profit 1: 0.6680 Take Profit 2: 0.6900 Learn More Fundamental Trading Analysis of Chevron Chevron continues to actively capitalize on the favorable climate in the oil and gas market. The energy giant's profit significantly exceeded analysts' expectations. Our Analysis: As long as price is above 165.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 179.88 Take Profit 1: 190.00 Take Profit 2: 200.00 Alternative scenario: If the level of 165.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 165.00 Take Profit 1: 155.00 Take Profit 2: 150.00 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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