Daily Trading Analysis 01.02.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY During the last seven days, the EUR/JPY pair has been unable to reach new highs, above the January 25 daily high at 142.29, exacerbating a consolidation within the 20 and 50-day EMA. Backed by the Relative Strength Index (RSI) and the Rate of Change (RoC) almost flat at neutral levels, the EUR/JPY pair would remain trendless, awaiting the Europen Central Bank (ECB) monetary policy on Thursday.  Our Analysis: While the price is below 140.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 141.79 Take Profit 1: 143.80 Take Profit 2: 145.60 Alternative scenario: If the level 140.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 140.80 Take profit 1: 138.80 Take Profit 2: 137.80 Learn More Trading Analysis of GBP/JPY GBP/JPY fades the late Tuesday’s corrective bounce off the 100-bar Simple Moving Average (SMA) as it prints mild losses near the 160.00 psychological magnet during early Wednesday. In doing so, the cross-currency pair keeps the previous week’s retreat from a one-month high. Our Analysis: As long as the price is above 158.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.60 Take profit 1: 162.35 Take Profit 2: 165.00 Alternative scenario: If the level of 158.50 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 158.50 Take profit 1: 155.00 Take profit 2: 152.50 Learn More Fundamental Trading Analysis of McDonald's McDonald's stock performed well in 2022, overcoming market declines thanks to strong demand in the fast-food industry. Our Analysis: As long as the price is above 260.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 267.31 Take Profit 1: 275.00 Take Profit 2: 280.00 Alternative scenario: If the level of 260.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 260.00 Take Profit 1: 256.00 Take Profit 2: 252.00 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.

PaxForex | London, London, E16AN United Kingdom Unsubscribe edwardlorilla1986.paxforex@blogger.com Constant Contact Data Notice Sent by info@paxforex.org