Daily Trading Analysis 24.03.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CHF The UK Retail Sales arrived at 1.2% over the month in February vs. 0.2% expected and 0.9% previous. Our Analysis: While the price is above 1.1200, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1260 Take Profit 1: 1.1285 Take Profit 2: 1.1320 Alternative scenario: If the level of 1.1200 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1200 Take profit 1: 1.1170 Take profit 2: 1.1140 Learn More Trading Analysis of NZD/CAD RBNZ’s Conway: If inflation expectations don't fall, will have to do more on interest rates. Our Analysis: As long as the price is below 0.8600 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8533 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 3m When a company with an iconic name like 3M is struggling, it's worth at least taking a look at what is happening and why. Our Analysis: As long as the price is below 112.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 101.02 Take Profit 1: 95.00 Take Profit 2: 90.00 Alternative scenario: If the level of 112.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 112.00 Take Profit 1: 115.00 Take Profit 2: 120.00 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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