Sunday, October 16, 2022

Daily Trading Analysis 17.10.2022

Trading Analysis of USD/CAD

USD/CAD struggles below 1.3900 as crude oil pares weekly losses, Canada inflation eyed.







Our Analysis:


While the price is above 1.3600, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.3880
  • Take Profit 1: 1.3980
  • Take Profit 2: 1.4100


Alternative scenario:


If the level 1.3600 is broken-down, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.3600
  • Take Profit 1: 1.3500
  • Take Profit 2: 1.3300
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Trading Analysis of AUD/USD

The AUD/USD pair has bounced marginally after building a base around the critical support of 0.6200 in the early Tokyo session. The asset has picked bids after a north-side break of a compact rangebound structure in a 0.6195-0.6210 range as the risk appetite theme has fetched the spotlight.


Our Analysis:


Provided that the currency pair is below 0.6520, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 0.6196
  • Take Profit 1: 0.6100
  • Take Profit 2: 0.6000


Alternative scenario:


In case of a broken-out of the level 0.6520, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 0.6520
  • Take Profit 1: 0.6680
  • Take Profit 2: 0.6900
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Fundamental Trading

Analysis of Apple

During 2022, investors are trying to avoid technology stocks as rising inflation has driven down consumer spending. This has called into question the financial prospects of some of the world's most expensive companies.

Our Analysis:


As long as price is above 134.00, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 137.84
  • Take Profit 1: 147.00
  • Take Profit 2: 157.00


Alternative scenario:


If the 134.00 level is broken-down, follow the recommendations below:   

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 134.00
  • Take Profit 1: 129.00
  • Take Profit 2: 123.00
Learn More
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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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WHAT YOU NEED TO KNOW TODAY: MONDAY, OCTOBER 17, 2022

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