Daily Trading Analysis 03.05.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY EUR/JPY advances further and surpasses the 151.00 mark for the first time since September 2008. The underlying strong upside momentum in the cross appears unchallenged for the time being. Against that, the continuation of the upward bias should meet the next hurdle of note at the September 2008 high at 159.62 Our Analysis: While the price is above 146.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 149.96 Take Profit 1: 151.50 Take Profit 2: 153.00 Alternative scenario: If the level 146.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 146.80 Take profit 1: 145.40 Take Profit 2: 143.00 Learn More Trading Analysis of GBP/JPY Japan: BoJ “normalization” to start in a gradual fashion – UOB Group. Our Analysis: As long as the price is above 166.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 169.90 Take profit 1: 172.00 Take Profit 2: 174.00 Alternative scenario: If the level of 166.00 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 166.00 Take profit 1: 164.60 Take profit 2: 162.70 Learn More Fundamental Trading Analysis of Intel On April 27, Intel released its Q1 report, revealing a 36% YoY decline in revenue to $11.7 billion. Our Analysis: As long as the price is above 28.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 29.68 Take Profit 1: 31.00 Take Profit 2: 32.50 Alternative scenario: If the level of 28.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 28.00 Take Profit 1: 27.00 Take Profit 2: 25.50 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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