Daily Trading Analysis 12.01.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England has sharply criticised UK lenders for failing to tackle the risk management blind spots exposed by the collapse of a multibillion-dollar hedge fund, the energy price shock and other crises that have rocked financial markets in recent years. Our Analysis: While the price is below 1.6500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6317 Take Profit 1: 1.6088 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 With inflation still elevated, experts still expect the Bank of Canada of raise its policy rate by 25 basis points to 4.50% at its late January meeting. However, as long as core inflation begins to slow perceptibly in the months ahead, we all should anticipate that this rate hike will be the last of the current tightening cycle. Our Analysis: As long as the price is above 1.4130 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4457 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 Alphabet Just weeks after OpenAI launched ChatGPT, Microsoft is reportedly working on how to incorporate it into its Bing search engine. Our Analysis: As long as the price is above 85.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 91.75 Take Profit 1: 95.00 Take Profit 2: 101.00 Alternative scenario: If the level of 85.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 85.00 Take Profit 1: 80.00 Take Profit 2: 75.00 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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