Daily Trading Analysis 05.05.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CHF The UK economy seems to narrowly avoid a negative GDP growth in Q1 as well as the February print showed +0.1% on a 3M/3M basis at same time as the data from January was revised higher. Our Analysis: While the price is below 1.1200, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1150 Take Profit 1: 1.1075 Take Profit 2: 1.1000 Alternative scenario: If the level of 1.1200 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1200 Take profit 1: 1.1285 Take profit 2: 1.1320 Learn More Trading Analysis of NZD/CAD RBNZ’s Orr: New Zealand farms face challenges as interest rates rise. Our Analysis: As long as the price is below 0.8400 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8517 Take Profit 1: 0.8560 Take Profit 2: 0.8610 Alternative scenario: If the level of 0.8400 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8400 Take profit 1: 0.8340 Take profit 2: 0.8260 Learn More Fundamental Trading Analysis of McDonald's It appears highly likely that a recession will occur this year, given that the nation's real gross domestic product grew at an annual rate of merely 1.1% during the first quarter, a drop from 2.6% in the previous period. Our Analysis: As long as the price is above 290.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 294.96 Take Profit 1: 299.00 Take Profit 2: 305.00 Alternative scenario: If the level of 290.00 is broken-down, follow the recommendations below:    Time frame: D1 Recommendation: short position Entry point: 290.00 Take Profit 1: 287.50 Take Profit 2: 283.50 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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