Daily Trading Analysis 16.02.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The UK’s rate of consumer price inflation remains one of the fastest in the developed world, although January's figures were softer than expected. CPI fell by 0.6% last month, against expectations of a 0.4% drop. The weaker-than-expected data put downward pressure on the Pound, as it eased some pressure on the Bank of England to raise interest rates. Our Analysis: While the price is above 1.6100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6110 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 ECB 50 bps hike in March a done deal, May and June undecided – Reuters Poll. Our Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4320 Take Profit 1: 1.4570 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: 1.4090 Take Profit 2: 1.3940 Learn More Fundamental Trading Analysis of Ethereum This year has started positively for crypto investors as many cryptocurrencies rising in the past few weeks Our Analysis: As long as the price is above 1500.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1676.05 Take Profit 1: 1790.00 Take Profit 2: 2000.00 Alternative scenario: If the level of 1500.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1500.00 Take Profit 1: 1350.00 Take Profit 2: 1200.00 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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