Daily Trading Analysis 14.03.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD sticks to mild losses near 0.6210 during the first downbeat day in three heading into Tuesday’s European session. In doing so, the Kiwi pair struggles to break the 100-bar Exponential Moving Average (EMA) amid sluggish trading hours.  Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6226 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 The EUR/USD pair meets with some supply during the Asian session on Tuesday and snaps a three-day winning streak to a nearly one-month high touched the previous day. Our Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0699 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 Home Depot Although the S&P 500 Index is on the upside so far this year, the market's double-digit drop in 2022 has set the stage for investors to realize bargain-basement opportunities. Our Analysis: While the price is below 300.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 286.41 Take Profit 1: 277.00 Take Profit 2: 267.00 Alternative scenario: If the level 300.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 300.00 Take Profit 1: 308.00 Take Profit 2: 316.00 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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