Daily Trading Analysis 02.02.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England is expected to increase the interest rate by 50 basis points.  Our Analysis: While the price is above 1.6300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6457 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 The Canadian dollar recouped losses after November’s GDP beat expectations. Our Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4625 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 Pfizer When major U.S. stock indices plunged into bear territory in 2022, big pharma stocks quickly became an oasis for nervous investors in many cases because of their largely recession-proof business models, solid cash flows, and steady quarterly dividends.  Our Analysis: As long as the price is below 46.50, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 43.99 Take Profit 1: 42.50 Take Profit 2: 40.00 Alternative scenario: If the level of 46.50 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 46.00 Take Profit 1: 48.00 Take Profit 2: 50.00 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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