Daily Trading Analysis 06.04.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Canada will publish its March employment report on Thursday, April 6. The market anticipates the country has added 12,000 new job positions after creating 21,800 in the previous month. The Unemployment Rate is foreseen ticking higher, from 5% to 5.1%, while the Participation Rate is expected to have remained stable at 65.7%.  Our Analysis: While the price is above 1.6550, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6781 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) policymaker Boris Vujčić said on Wednesday, “the largest part of the rate-hiking cycle is behind us.” Our Analysis: As long as the price is above 1.4650 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4689 Take Profit 1: 1.4790 Take Profit 2: 1.4940 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 Meta Platforms A lot has changed for Meta Platforms over the past few years, and some things have changed dramatically. Our Analysis: As long as the price is above 198.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 211.05 Take Profit 1: 220.00 Take Profit 2: 230.00 Alternative scenario: If the level of 198.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 198.00 Take Profit 1: 193.00 Take Profit 2: 183.00 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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