Daily Trading Analysis 03.04.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD licks its wounds around 1.3500 after refreshing the 1.5-month low early Monday. In doing so, the Loonie pair sellers take a breather after breaking the short-term key support line, now resistance, and the 100-DMA. Not only the DMA and support line break but the bearish MACD signals also keep the USD/CAD pair sellers hopeful. Our Analysis: While the price is above 1.3640, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3521 Take Profit 1: 1.3470 Take Profit 2: 1.3375 Alternative scenario: If the level 1.3640 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3640 Take Profit 1: 1.3700 Take Profit 2: 1.3800 Learn More Trading Analysis of AUD/USD AUD/USD stays depressed below 0.6700 on the downbeat China Caixin Manufacturing PMI. Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6663 Take Profit 1: 0.6550 Take Profit 2: 0.6400 Alternative scenario: In case the level 0.6800 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6800 Take Profit 1: 0.6900 Take Profit 2: 0.7000 Learn More Fundamental Trading Analysis of Disney Disney has not long ago re-engaged its longtime CEO, Bob Iger, who has retired and returned to his former duties. Our Analysis: As long as the price is above 94.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 99.86 Take Profit 1: 105.00 Take Profit 2: 109.00 Alternative scenario: If the level of 94.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 94.00 Take Profit 1: 90.00 Take Profit 2: 85.00 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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