Daily Trading Analysis 10.05.2023

Technical & Fundamental analysis

Trading Analysis of EUR/JPY EUR/JPY remains mildly bid as it consolidates the previous day’s losses around 148.40 during early Wednesday. In doing so, the cross-currency pair portrays a bullish pennant chart formation on the four-hour play, poking the confirmation point of late  Our Analysis: While the price is above 146.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 148.57 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 GBP/JPY eyes 171.00 as BoE sets to raise rates further to tame stubborn UK Inflation. Our Analysis: As long as the price is above 166.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 170.94 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 Apple Apple's stock rose by 5% on May 5th following the release of its latest earnings report. Our Analysis: As long as the price is above 155.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 171.45 Take Profit 1: 175.00 Take Profit 2: 185.00 Alternative scenario: If the level of 155.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 155.00 Take Profit 1: 150.00 Take Profit 2: 145.00 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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