Daily Trading Analysis 10.03.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CHF With no fundamental drives for either currency, the cross has been consolidating. However, we are now starting to witness mild upside pressure in stock indices. This has resulted in the safe-haven Swiss franc (CHF) moving to the downside. Our Analysis: While the price is above 1.1070, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0975 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 Bank of Canada Senior Deputy Governor Carolyn Rogers said on Thursday they are looking for more evidence that the current interest rate levels are high enough. Our Analysis: As long as the price is below 0.8600 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8445 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 Walmart More high-income consumers are now shopping at Walmart, a sign of the growing pressure that rising interest rates, continued high inflation and higher gasoline prices are putting on the economy. Our Analysis: As long as the price is below 141.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 136.93 Take Profit 1: 135.00 Take Profit 2: 130.00 Alternative scenario: If the level of 141.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 141.00 Take Profit 1: 144.00 Take Profit 2: 147.00 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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