Monday, April 24, 2023

Daily Trading Analysis 24.04.2023

Trading Analysis of USD/CAD

USD/CAD gathers strength for a break above 1.3550 despite subdued USD Index







Our Analysis:


While the price is below 1.3635, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.3556
  • Take Profit 1: 1.3300
  • Take Profit 2: 1.3200


Alternative scenario:


If the level 1.3635 is broken-out, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.3635
  • Take Profit 1: 1.3800
  • Take Profit 2: 1.3900
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Trading Analysis of AUD/USD

The AUD/USD drifts lower for the second successive day on Monday and drops to a one-and-half-week low, around the 0.6675 region during the Asian session.




Our Analysis:


Provided that the currency pair is below 0.6800, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 0.6670
  • 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
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Fundamental Trading

Analysis of Meta Platforms

Believe it or not, Meta Platforms stock is up more than 70% for the year.










Our Analysis:


As long as the price is above 197.00, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 212.38
  • Take Profit 1: 220.00
  • Take Profit 2: 235.00


Alternative scenario:


If the level of 197.00 is broken-down, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 197.00
  • Take Profit 1: 189.00
  • Take Profit 2: 179.00
Learn More
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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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