Daily Trading Analysis 26.01.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England will lift the Bank Rate by 50 basis points on Feb. 2 to 4.00% and then add another 25 basis points in March before pausing, according to a Reuters poll of economists who said the greater risk was that it would do even more.  Our Analysis: While the price is above 1.6300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6603 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 President Christine Lagarde has repeatedly used the phrase “staying the course” when referring to upcoming rate decisions, but some market watchers doubt the bank will keep its hawkish stance for much longer. Our Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4633 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 S&P 500 With the S&P 500 averaging a 14.3 percent annual return over the 10-year period from early 2012 through 2021, investors were in for a nasty surprise when the broad U.S. 500 index ended 2022 down 19.4 percent.  Our Analysis: As long as the price is above 3900.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 4025.05 Take Profit 1: 4115.00 Take Profit 2: 4200.00 Alternative scenario: If the level of 3900.00 is broken-down, follow the recommendations below:    Time frame: D1 Recommendation: short position Entry point: 3900.00 Take Profit 1: 3800.00 Take Profit 2: 3680.00 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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