Daily Trading Analysis 10.04.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD is making efforts in shifting business above the immediate resistance of 1.3520 in the Asian session. The Loonie asset is gaining traction as investors are awaiting the release of the United States inflation figures and the interest rate decision by the Bank of Canada (BoC), which will release on Wednesday. Our Analysis: While the price is above 1.3640, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3509 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 sticks to minor losses around 0.6670, despite recently bouncing off the intraday low, as bears lack influencers amid the Easter Monday holiday. In doing so, the Aussie pair fails to justify the escalating geopolitical tension between the US and China.  Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6656 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 Intel Intel's recent 25% surge in stock price can be attributed to positive analyst comments and a rally in technology stocks. Our Analysis: As long as the price is above 31.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 32.72 Take Profit 1: 33.80 Take Profit 2: 36.00 Alternative scenario: If the level of 31.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 31.00 Take Profit 1: 30.00 Take Profit 2: 28.00 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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