Daily Trading Analysis 08.12.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Britain saw the most widespread house price falls since early in the COVID-19 pandemic last month, as demand from buyers and sales activity slowed in the face of higher borrowing costs. Our Analysis: While the price is above 1.6360, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6665 Take Profit 1: 1.6800 Take Profit 2: 1.7000 Alternative scenario: If level 1.6360 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6360 Take profit 1: 1.6085 Take Profit 2: 1.5850 Learn More Trading Analysis of EUR/CAD On Wednesday, the Bank of Canada (BOC) announced a 0.50% rate hike and weighed on the USD/CAD prices. However, the tone of the Rate Statement appeared dovish and challenged the Canadian Dollar (CAD) buyers. Our Analysis: As long as the price is above 1.4130 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4358 Take Profit 1: 1.4400 Take Profit 2: 1.4600 Alternative scenario: If the level of 1.4130 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4130 Take profit 1: 1.3940 Take Profit 2: 1.3740 Learn More Fundamental Trading Analysis of Meta Platforms Meta Platforms shares rose more than 25% last month, as per the data provided by S&P Global Market Intelligence. Our Analysis: As long as the price is above 107.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 113.55 Take Profit 1: 125.00 Take Profit 2: 139.00 Alternative scenario: If the level of 107.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 107.00 Take Profit 1: 94.00 Take Profit 2: 87.00 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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