Daily Trading Analysis 11.11.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CHF The Bank of England is warning the country is on the precipice of the longest recession in a century, as it pushed through the largest interest rate hike since 1989. In announcing the 0.75% rate change to bring the current bank rate to 3%, the committee that sets monetary policy in the U.K. acknowledged they’re facing a “very challenging outlook. Our Analysis: While the price is above 1.1200, follow the recommendations below: me frame: D1 Recommendation: long position Entry point: 1.1279 Take Profit 1: 1.1600 Take Profit 2: 1.1965 Alternative scenario: If the level of 1.1200 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1200 Take profit 1: 1.0900 Take profit 2: 1.0600 Learn More Trading Analysis of NZD/CAD The Bank of Canada left the door open to further slowing its pace of interest rate hikes, while warning the labor market faces an uneven adjustment to higher borrowing costs. Our Analysis: As long as the price is above 0.7890 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8015 Take Profit 1: 0.8050 Take Profit 2: 0.8140 Alternative scenario: If the level of 0.7890 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7890 Take profit 1: 0.7800 Take profit 2: 0.7750 Learn More Fundamental Trading Analysis of Bitcoin In a fast-paced development that seems to be changing by the hour, major cryptocurrency exchange Binance said it would no longer pursue an acquisition of FTX, the world's fifth-largest cryptocurrency exchange by volume over the past year. Our Analysis: As long as the price is below 18000.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 17182.00 Take Profit 1: 15000.00 Take Profit 2: 13000.00 Alternative scenario: If the 18000.00 level is broken-out, follow the recommendations below:       Time frame: D1 Recommendation: long position Entry point: 18000.00 Take Profit 1: 25200.00 Take Profit 2: 29000.00 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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