Daily Trading Analysis 24.01.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD The NZD/USD pair surpassed the psychological resistance of 0.6500 in the early European session. The kiwi asset has picked strength as the US Dollar Index (DXY) has witnessed immense pressure after failing to recapture Monday’s high at 101.87. The USD Index has refreshed its day’s low at 101.47, portraying a risk appetite theme in the market. Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6513 Take Profit 1: 0.6565 Take Profit 2: 0.6800 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6130 Take Profit 1: 0.5850 Take Profit 2: 0.5630 Learn More Trading Analysis of EUR/USD The Euro remains supported by ECB officials fighting speculation of a 25 bps hike. S&P Global Manufacturing and Services PMI surveys will likely be a reality check for the strength of the shared currency. Our Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0895 Take Profit 1: 1.1000 Take Profit 2: 1.1100 Alternative scenario: If the level 1.0700 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0700 Take Profit 1: 1.0600 Take Profit 2: 1.0500 Learn More Fundamental Trading Analysis of Apple Over the past two decades, Apple has been one of the most valuable stocks on the market and during that time has become the most expensive company in the world. Our Analysis: As long as the price is above 134.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 140.54 Take Profit 1: 150.00 Take Profit 2: 157.00 Alternative scenario: If the level of 134.00 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: 124.00 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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