Daily Trading Analysis 03.02.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CHF On Thursday, the Bank of England (BoE) hiked the policy rate by 50 basis points to 4.00%. Analysts at Danske Bank expect the increasingly weak growth outlook to support a near-term ending to the hiking cycle. Our Analysis: While the price is above 1.1100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1170 Take Profit 1: 1.1400 Take Profit 2: 1.1500 Alternative scenario: If the level of 1.1100 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1100 Take profit 1: 1.1000 Take profit 2: 1.1090 Learn More Trading Analysis of NZD/CAD New Zealand: the labor market has reached a turning point, RBNZ to hike 50 bps – Westpac. Our Analysis: As long as the price is above 0.8450 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8633 Take Profit 1: 0.8730 Take Profit 2: 0.8880 Alternative scenario: If the level of 0.8450 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8450 Take profit 1: 0.8350 Take profit 2: 0.8250 Learn More Fundamental Trading Analysis of Alibaba The previous several years have been petty tough for e-commerce giant Alibaba Group, to say the least. Our Analysis: As long as the price is above 104.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 103.63 Take Profit 1: 125.00 Take Profit 2: 135.00 Alternative scenario: If the level of 104.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 104.00 Take Profit 1: 95.00 Take Profit 2: 85.00 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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