Daily Trading Analysis 19.12.2022

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD remains depressed around 1.3680 as it struggles to defend the two-day uptrend during Monday’s Asian session. In doing so, the Loonie pair retreats from a seven-day-old horizontal resistance area inside a rising wedge bearish formation established since early November. Our Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3670 Take Profit 1: 1.3750 Take Profit 2: 1.3850 Alternative scenario: If the level 1.3500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3500 Take Profit 1: 1.3385 Take Profit 2: 1.3300 Learn More Trading Analysis of AUD/USD AUD/USD picks up bids to refresh intraday high near 0.6720 during early Monday. In doing so, the Aussie pair prints the first daily gains in three while bouncing off the lowest levels in eight days. Our Analysis: Provided that the currency pair is above 0.6600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6707 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 Home Depot Home Depot shareholders have certainly had a memorable 2022. Our Analysis: While the price is above 310.00, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 323.14 Take Profit 1: 330.00 Take Profit 2: 345.00 Alternative scenario: If the level 310.00 is broken-down, follow the recommendations below Time frame: D1 Recommendation: short position Entry point: 310.00 Take Profit 1: 300.00 Take Profit 2: 290.00 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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