Daily Trading Analysis 29.12.2022

Technical & Fundamental analysis

Trading Analysis of GBP/CAD While the BoE is expecting a “gradual” CPI decline, head of market analysis at Brewin Dolphin Janet Mui said inflation was likely to slow “sharply” in 2023. Our Analysis: While the price is below 1.6500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6352 Take Profit 1: 1.6085 Take Profit 2: 1.5820 Alternative scenario: If level 1.6500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6500 Take profit 1: 1.6700 Take Profit 2: 1.6850 Learn More Trading Analysis of EUR/CAD After a year in which the Bank of Canada raised its key overnight lending rate seven times in an attempt to slow down soaring inflation, most experts believe the Bank is set to take a breather in 2023. Our Analysis: As long as the price is above 1.4130 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4438 Take Profit 1: 1.4500 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 Amazon This has been an extremely difficult year for Amazon shareholders. After skyrocketing in the early stages of the pandemic, when store closings and other COVID-related restrictions forced people to shop online, the e-commerce giant's stock price bounced back in 2022.  Our Analysis: As long as the price is below 96.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 80.95 Take Profit 1: 75.00 Take Profit 2: 70.00 Alternative scenario: If the level of 96.00 is broken-out, follow the recommendations below:  Time frame: D1 Recommendation: long position Entry point: 96.00 Take Profit 1: 103.00 Take Profit 2: 110.00 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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