Daily Trading Analysis 07.03.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD seesaws around intraday high near 0.6210, up 0.40% on a day, as bulls cheer the previous day’s inability to conquer the 200-DMA support amid early Tuesday. In doing so, the Kiwi pair buyers also benefit from the upbeat oscillators while heading into a short-term key resistance. Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6210 Take Profit 1: 0.6290 Take Profit 2: 0.6385 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6130 Take Profit 1: 0.6070 Take Profit 2: 0.6000 Learn More Trading Analysis of EUR/USD EUR/USD looks set to test 1.0700 ahead of Fed Powell’s testimony and US Employment. Our Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0684 Take Profit 1: 1.0500 Take Profit 2: 1.0300 Alternative scenario: If the level 1.0750 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0750 Take Profit 1: 1.0875 Take Profit 2: 1.1000 Learn More Fundamental Trading Analysis of Meta Platforms Meta Platforms has been facing a challenging period, marked by a significant drop in share prices since reaching an all-time high of $382 in 2021. Our Analysis: As long as the price is above 167.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 184.52 Take Profit 1: 197.00 Take Profit 2: 215.00 Alternative scenario: If the level of 167.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 167.00 Take Profit 1: 154.00 Take Profit 2: 145.00 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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