Daily Trading Analysis 24.04.2023

Technical & Fundamental analysis

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 Learn More 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 Learn More 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 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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