Daily Trading Analysis 16.03.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD While the pound didn't show many signs of reaction to today's budget announcement by Chancellor Hunt, UK stocks took a further dive with the FTSE100 reaching the lowest level since December 2022. Our Analysis: While the price is above 1.6407, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6604 Take Profit 1: 1.6700 Take Profit 2: 1.6850 Alternative scenario: If level 1.6407 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6407 Take profit 1: 1.6235 Take Profit 2: 1.6085 Learn More Trading Analysis of EUR/CAD The market is feeling more confident that the ECB will stick to the 50 bp hike today that it had signaled before the US financial crisis. Our Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4585 Take Profit 1: 1.4700 Take Profit 2: 1.4780 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 Microsoft One could not help but notice that Microsoft's business is starting to slow down Our Analysis: As long as the price is above 245.00, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 264.83 Take Profit 1: 275.00 Take Profit 2: 285.00 Alternative scenario: If the level of 245.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 245.00 Take Profit 1: 235.00 Take Profit 2: 225.00 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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