Daily Trading Analysis 19.01.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD UK inflation eased for a second straight month in December. Headline CPI dipped to 10.5%, down from 10.7% in November and just below the forecast of 10.6%. Core CPI, however, did not show an improvement as it remained unchanged at 6.3%.  Our Analysis: While the price is above 1.6300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6640 Take Profit 1: 1.6850 Take Profit 2: 1.7000 Alternative scenario: If level 1.6300 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6300 Take profit 1: 1.6085 Take Profit 2: 1.5820 Learn More Trading Analysis of EUR/CAD European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Wednesday, it's “too early to speculate about what we will do in March. Our Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4571 Take Profit 1: 1.4700 Take Profit 2: 1.4900 Alternative scenario: If the level of 1.4250 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 1.4250 Take profit 1: 1.4090 Take Profit 2: 1.3940 Learn More Fundamental Trading Analysis of ExxonMobil ExxonMobil recently reiterated its intentions to proceed with its fifth offshore oil project off the coast of Guyana. Our Analysis: As long as the price is above 105.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 110.46 Take Profit 1: 114.00 Take Profit 2: 120.00 Alternative scenario: If the level of 105.00 is broken-down, follow the recommendations below:     Time frame: D1 Recommendation: short position Entry point: 105.00 Take Profit 1: 102.00 Take Profit 2: 98.00 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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