Daily Trading Analysis 03.11.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England on Tuesday is set to become the first major central bank to sell off assets accumulated during a 13-year-old stimulus program, providing a test case for how quickly markets can shift away from easy-money policies. Our Analysis: While the price is above 1.5400, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5601 Take Profit 1: 1.5800 Take Profit 2: 1.6000 Alternative scenario: If level 1.5400 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5400 Take profit 1: 1.5240 Take Profit 2: 1.5015 Learn More Trading Analysis of EUR/CAD European Central Bank (ECB) policymaker Martins Kazaks said in a statement on Thursday, “It's clear we need to raise interest rates.” Our Analysis: As long as the price is below 1.3550 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3451 Take Profit 1: 1.3355 Take Profit 2: 1.3240 Alternative scenario: If the level of 1.3550 is broken-out, follow the recommendations below:     Time frame: D1 Recommendation: long position Entry point: 1.3550 Take profit 1: 1.3715 Take Profit 2: 1.3800 Learn More Fundamental Trading Analysis of Amazon Last week, Amazon's Q3 report caused its stock to plummet after the company issued weak guidance for Q4. The quarter itself wasn't too bad. Our Analysis: As long as the price is below 110.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 92.03 Take Profit 1: 85.00 Take Profit 2: 70.00 Alternative scenario: If the level of 110.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 110.00 Take Profit 1: 121.00 Take Profit 2: 135.00 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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