Daily Trading Analysis 23.02.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of Canada may have room to hold interest rates at its next March meeting after one of the key inflation indicators it tracks showed some relief in January. Our Analysis: While the price is above 1.6100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6315 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 European Central Bank President Christine Lagarde announced that the central bank is ready to hike interest rates further by 50 bps to 3.50% in March. Our Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4364 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 Litecoin You may know Litecoin as "silver" compared to "digital gold" Bitcoin. The price of this modified bitcoin clone was once over $400 per token, but now it has dropped to around $95. Our Analysis: As long as the price is above 82.50, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 94.32 Take Profit 1: 106.00 Take Profit 2: 115.00 Alternative scenario: If the level of 82.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 82.50 Take profit 1: 73.00 Take Profit 2: 66.00 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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