Daily Trading Analysis 06.01.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CHF Mortgage approvals fell to their lowest level in two years as interest rate rises put off buyers, new Bank of England figures suggest. They slumped to just over 46,000 in November, down from under 58,000 in October, according to the central bank. Our Analysis: While the price is above 1.1070, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1145 Take Profit 1: 1.1350 Take Profit 2: 1.1500 Alternative scenario: If the level of 1.1070 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1070 Take profit 1: 1.1090 Take profit 2: 1.0600 Learn More Trading Analysis of NZD/CAD New Zealand’s housing downturn likely has further to run even after the market suffered its worst decline since the global financial crisis. Our Analysis: As long as the price is below 0.8620 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8433 Take Profit 1: 0.8350 Take Profit 2: 0.8250 Alternative scenario: If the level of 0.8620 is broken-out , follow the recommendations below:   Time frame: D1 Recommendation: long position Entry point: 0.8620 Take profit 1: 0.8730 Take profit 2: 0.8800 Learn More Fundamental Trading Analysis of General Electric Investors are sincerely hoping that 2023 will go better than 2022, and after a first day of weak results earlier in the week, it looks like Wall Street may finally be contributing. Our Analysis: As long as the price is below 76.50, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 71.01 Take Profit 1: 67.00 Take Profit 2: 63.00 Alternative scenario: If the 76.50 level is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 76.50 Take Profit 1: 80.00 Take Profit 2: 85.00 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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