Daily Trading Analysis 27.04.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of England meets next week and inflation is remaining a serious problem. Short-term interest rate markets are pricing in a 99% chance of a 25bps rate hike on May 10 after the latest inflation data. Our Analysis: While the price is above 1.6870, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6997 Take Profit 1: 1.7100 Take Profit 2: 1.7250 Alternative scenario: If level 1.6870 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6870 Take profit 1: 1.6790 Take Profit 2: 1.6690 Learn More Trading Analysis of EUR/CAD The Bank of Canada's Summary of Deliberations from the April 12th meeting when it kept interest rate unchanged, showed they discussed hiking rates. The document notes that inflation was declining in line with BoC Governing Council estimates. Officials agreed that expectations for rate cuts later in 2023 are not the most likely scenario. Our Analysis: As long as the price is above 1.4930 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5060 Take Profit 1: 1.5100 Take Profit 2: 1.5250 Alternative scenario: If the level of 1.4930 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 1.4930 Take profit 1: 1.4800 Take Profit 2: 1.4680 Learn More Fundamental Trading Analysis of Alibaba libaba, a leading player in e-commerce and cloud computing, boasts a captivating corporate history. The brainchild of an unconventional Chinese entrepreneur, Jack Ma, the company attracted investments from the likes of Yahoo and SoftBank during its early days.  Our Analysis: While the price is below 88.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 82.68 Take Profit 1: 79.00 Take Profit 2: 74.00 Alternative scenario: If level 88.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 88.00 Take Profit 1: 94.00 Take Profit 2: 99.00 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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