Daily Trading Analysis 07.02.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD The NZD/USD pair gains some positive traction on Tuesday and moves further away from a one-month low, around the 0.6270 region touched the previous day. Spot prices, however, trim a part of the intraday gains and retreat to the 0.6320-0.6325 area during the early European session.  Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6315 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 EUR/USD grinds near an intraday high of 1.0743 as it bounces off a five-week-old horizontal support during early Tuesday in Europe. The major currency pair’s latest gains could also be linked to the oversold RSI (14). Our Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0732 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 Tesla One of the most popular stocks today is undoubtedly Tesla. Our Analysis: As long as the price is above 165.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 194.02 Take Profit 1: 225.00 Take Profit 2: 255.00 Alternative scenario: If the level of 165.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 165.00 Take Profit 1: 145.00 Take Profit 2: 125.00 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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