Daily Trading Analysis 09.02.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England is expected to increase the interest rate by 50 basis points. There are two important things to focus on here: firstly, the bank’s take on the interest rate and how long it thinks inflation will take to come close to its target. Secondly, where is the upper limit of the bank’s interest rate. Our Analysis: While the price is above 1.6100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6227 Take Profit 1: 1.6385 Take Profit 2: 1.6550 Alternative scenario: If level 1.6100 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6100 Take profit 1: 1.5980 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: 1.4400 Take Profit 1: 1.4540 Take Profit 2: 1.4700 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: 1.4150 Take Profit 2: 1.4090 Learn More Fundamental Trading Analysis of Intel Intel had arguably one of the worst years in the history of the stock.  Our Analysis: As long as the price is above 27.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 28.17 Take Profit 1: 31.00 Take Profit 2: 34.00 Alternative scenario: If the level of 27.00 is broken-down, follow the recommendations below:             Time frame: D1 Recommendation: short position Entry point: 27.00 Take Profit 1: 25.00 Take Profit 2: 23.00 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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