Daily Trading Analysis 08.05.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD depicts “silence after the storm” below a three-week low near 1.3400 amid firmer Oil price. Our Analysis: While the price is below 1.3475, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3366 Take Profit 1: 1.3300 Take Profit 2: 1.3200 Alternative scenario: If the level 1.3475 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3475 Take Profit 1: 1.3650 Take Profit 2: 1.3700 Learn More Trading Analysis of AUD/USD AUD/USD faces a potential upside to the 0.6810 region – UOB Group. Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6775 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 Microsoft Microsoft has provided investors with a significant amount of new information about its expansive technology business. Our Analysis: As long as the price is above 291.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 310.26 Take Profit 1: 321.00 Take Profit 2: 331.00 Alternative scenario: If the level of 291.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 291.00 Take Profit 1: 281.00 Take Profit 2: 271.00 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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