Daily Trading Analysis 09.01.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD The USD/CAD pair struggles to capitalize on Friday's bounce from the 1.3320 area, or its lowest level since November 25 and meets with a fresh supply on the first day of a new week. The pair remains on the defensive through the Asian session and is currently placed near the daily low, around mid-1.3300s. Our Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3380 Take Profit 1: 1.3300 Take Profit 2: 1.3225 Alternative scenario: If the level 1.3500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3500 Take Profit 1: 1.3570 Take Profit 2: 1.3650 Learn More Trading Analysis of AUD/USD The AUD/USD pair kicks off the new week on a positive note and climbs to its highest level since mid-August during the Asian session. The pair, however, trim a part of its intraday gains and retreat below the 0.7000 psychological mark in the last hour.  Our Analysis: Provided that the currency pair is above 0.6860, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6971 Take Profit 1: 0.7000 Take Profit 2: 0.7200 Alternative scenario: In case the level 0.6860 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6860 Take Profit 1: 0.6715 Take Profit 2: 0.6630 Learn More Fundamental Trading Analysis of Tesla When investors think about Tesla stock, they often assume it's about a company that will eventually dominate the auto industry. Our Analysis: While the price is below 126.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 121.79 Take Profit 1: 104.00 Take Profit 2: 90.00 Alternative scenario: If the level 126.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 126.00 Take Profit 1: 147.00 Take Profit 2: 165.00 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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