Daily Trading Analysis 04.05.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD UK economists expect just one more quarter-point rate hike from the Bank of England even though inflation is stuck in double digits and investors are bracing for a round of increases lasting through the summer. Our Analysis: While the price is above 1.6870, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7108 Take Profit 1: 1.7150 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 European Central Bank is expected to lift its benchmark rate by a smaller step of 25 basis points Thursday, as core inflation declines and its own survey data points to much tighter financial conditions in the region. Our Analysis: As long as the price is above 1.4930 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5081 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 General Electric General Electric has continued to make progress, with its stock rising by an impressive 49% in 2023.  Our Analysis: As long as the price is above 97.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 101.62 Take Profit 1: 105.00 Take Profit 2: 110.00 Alternative scenario: If the level of 97.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 97.00 Take Profit 1: 93.00 Take Profit 2: 90.00 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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