Daily Trading Analysis 11.05.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Bank of England set to raise rates by another 25bps. Our Analysis: While the price is above 1.6870, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6887 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 ECB officials starting to accept rate hikes will continue in September – Bloomberg. Our Analysis: As short as the price is below 1.4850 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4680 Take Profit 1: 1.4580 Take Profit 2: 1.4500 Alternative scenario: If the level of 1.4850 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4850 Take profit 1: 1.4935 Take Profit 2: 1.5000 Learn More Fundamental Trading Analysis of Tesla Tesla shares have surged almost 40% year-to-date, outperforming the S&P 500's 8% rise, which has likely pleased investors. Our Analysis: As long as the price is above 151.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 167.70 Take Profit 1: 198.00 Take Profit 2: 217.00 Alternative scenario: If the level of 151.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 151.00 Take Profit 1: 138.00 Take Profit 2: 122.00 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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