Daily Trading Analysis 06.03.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD The USD/CAD pair kicks off the new week on a subdued note and seesaws between tepid gains/minor losses, around the 1.3600 mark heading into the European session. The pair, meanwhile, remains within Friday's broader trading range and is influenced by a combination of diverging forces. Our Analysis: While the price is below 1.3680, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3591 Take Profit 1: 1.3500 Take Profit 2: 1.3300 Alternative scenario: If the level 1.3680 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3680 Take Profit 1: 1.3800 Take Profit 2: 1.3900 Learn More Trading Analysis of AUD/USD AUD/USD treads water on a daily basis around 0.6760-70, despite recently picking up bids to pare the early losses heading into Monday’s European session. It’s worth noting that the Aussie pair marked the first weekly gain in three amid broad US Dollar weakness in the last week.  Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6755 Take Profit 1: 0.6650 Take Profit 2: 0.6550 Alternative scenario: In case the level 0.6800 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6800 Take Profit 1: 0.6900 Take Profit 2: 0.7000 Learn More Fundamental Trading Analysis of Alphabet Alphabet's stock has fallen 40% from its all-time high, with the latest drop driven by fears of artificial intelligence. Our Analysis: As long as the price is above 59.00, follow the recommendations below: Time frame: D1 Recommendation:long position Entry point: 59.74 Take Profit 1: 61.00 Take Profit 2: 63.00 Alternative scenario: If the level of 59.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 59.00 Take Profit 1: 58.00 Take Profit 2: 57.00 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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