Daily Trading Analysis 05.12.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD has witnessed a sheer downside after surrendering the critical support of 1.3442 in the Asian session. The loonie asset has dropped firmly below the round-level support of 1.3400 in the Tokyo session as a significant improvement in risk appetite has impacted the US Dollar. Our Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3422 Take Profit 1: 1.3300 Take Profit 2: 1.3160 Alternative scenario: If the level 1.3500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3500 Take Profit 1: 1.3600 Take Profit 2: 1.3750 Learn More Trading Analysis of AUD/USD The AUD/USD pair has extended its recovery from 0.6770 to above 0.6850 in the Asian session. The Aussie asset has witnessed stellar buying interest from the market participants as the Reserve Bank of Australia (RBA) is all set to tighten its policy further to bring price stability.  Our Analysis: Provided that the currency pair is above 0.6600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6809 Take Profit 1: 0.6900 Take Profit 2: 0.7000 Alternative scenario: In case of a broken-down of the level 0.6600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6600 Take Profit 1: 0.6500 Take Profit 2: 0.6380 Learn More Fundamental Trading Analysis of Bitcoin Bitcoin's bears are advancing with renewed vigor. Our Analysis: As long as the price is below 18000.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 17254.00 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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