Daily Trading Analysis 20.04.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Broader markets are likely still in hawkish shock after the hotter-than-hot UK CPI as it wasn’t so long ago Governor Bailey struck an optimistic tone on the UK's inflation path and hinted that its interest rate hiking cycle might soon end. Our Analysis: While the price is above 1.6550, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6751 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 ECB’s Knot: Too early to talk about a pause in interest rate rises.  Our Analysis: As long as the price is above 1.4650 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4759 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 IBM IBM has been a major disappointment for long-term investors, with its stock plummeting nearly 40% over the past decade. Our Analysis: As long as the price is above 123.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 126.15 Take Profit 1: 130.00  Take Profit 2: 137.00 Alternative scenario: If the level of 123.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 123.00 Take Profit 1: 120.00 Take Profit 2: 115.00 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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