Daily Trading Analysis 23.03.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The BoE will likely deliver a 25 basis points (bps) rate hike, raising the key policy rate from 4.0% to 4.25%. It will be the eleventh straight hike and probably the final one before the central bank adopts a wait-and-see approach. Our Analysis: While the price is above 1.6550, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6850 Take Profit 1: 1.6900 Take Profit 2: 1.7100 Alternative scenario: If level 1.6550 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6550 Take profit 1: 1.6400 Take Profit 2: 1.6250 Learn More Trading Analysis of EUR/CAD European Central Bank (ECB) Governing Council member Madis Muller said on Thursday, “the ECB should likely raise rates by a little.” Our Analysis: As long as the price is above 1.4650 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4921 Take Profit 1: 1.5000 Take Profit 2: 1.5200 Alternative scenario: If the level of 1.4650 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 1.4650 Take profit 1: 1.4500 Take Profit 2: 1.4385 Learn More Fundamental Trading Analysis of Amazon Lately, the stock market rarely gives us good news. Our Analysis: As long as the price is above 91.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 98.69 Take Profit 1: 102.00 Take Profit 2: 109.00 Alternative scenario: If the level of 91.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 91.00 Take Profit 1: 87.00 Take Profit 2: 82.00 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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