Daily Trading Analysis 24.02.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CHF Mounting hawkish Bank of England (BoE) bets are failing to provide a cushion to the Pound Sterling. Our Analysis: While the price is above 1.1070, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1225 Take Profit 1: 1.1375 Take Profit 2: 1.1540 Alternative scenario: If the level of 1.1070 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1070 Take profit 1: 1.1000 Take profit 2: 1.1090 Learn More Trading Analysis of NZD/CAD The RBNZ raised rates by a half-point on Wednesday, as the central bank remains aggressive in its battle to curb inflation. The move was in line with expectations and the New Zealand dollar moved higher but quickly pared those gains. The increase brings the cash rate to 4.75%, its highest level since 2009. With inflation running at a 7.2% clip, the RBNZ will have to keep raising rates until there is clear evidence that inflation has peaked. Our Analysis: As long as the price is below 0.8600 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8439 Take Profit 1: 0.8350 Take Profit 2: 0.8250 Alternative scenario: If the level of 0.8600 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8600 Take profit 1: 0.8730 Take profit 2: 0.8800 Learn More Fundamental Trading Analysis of AT&T If there's something AT&T's Q4 earnings report showed, it's how few people still use traditional phones. Our Analysis: As long as the price is above 18.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 19.29 Take Profit 1: 20.00 Take Profit 2: 22.00 Alternative scenario: If the level of 18.00 is broken-down, follow the recommendations below:    Time frame: D1 Recommendation: short position Entry point: 18.00 Take Profit 1: 17.00 Take Profit 2: 16.00 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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