Daily Trading Analysis 03.03.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Pill, Bank of England: Current economic activity may be slightly stronger than expected. Our Analysis: While the price is above 1.6100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6261 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 Crude Oil prices hold steady near a two-week high touched on Thursday amid the latest optimism about a strong fuel demand recovery in China - the world's top importer. This, in turn, is seen underpinning the commodity-linked Loonie. 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 Home Depot The S&P 500 has increased slightly at the start of 2023 but remains significantly lower than its peak over a year ago, and many high-quality stocks are in a similar situation, attempting to recover from the gains made over the past couple of years. Our Analysis: As long as the price is above 290.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 293.21 Take Profit 1: 302.00 Take Profit 2: 310.00 Alternative scenario: If the level of 290.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 290.00 Take Profit 1: 285.00 Take Profit 2: 277.00 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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