Daily Trading Analysis 16.05.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD The NZD/USD pair has dropped below 0.6250 as the National Bureau of Statistics of China has reported weaker-than-anticipated annual Retail Sales (April) data.. Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6244 Take Profit 1: 0.6385 Take Profit 2: 0.6500 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below:: Time frame: D1 Recommendation: short position Entry point: 0.6130 Take Profit 1: 0.6070 Take Profit 2: 0.6000 Learn More Trading Analysis of EUR/USD EUR/USD bulls eye 1.0900 amid US default woes ahead of Eurozone GDP, US Retail Sales. Our Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0878 Take Profit 1: 1.0930 Take Profit 2: 1.1000 Alternative scenario: If the level 1.0750 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0750 Take Profit 1: 1.0700 Take Profit 2: 1.0650 Learn More Fundamental Trading Analysis of McDonald's Despite the overall decline in the market since early 2022, the stock of McDonald's is reaching new highs this year, and it's not difficult to understand why Wall Street is currently enamored with the Golden Arches. Our Analysis: As long as the price is above 285.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 295.75 Take Profit 1: 300.00 Take Profit 2: 310.00 Alternative scenario: If the level of 285.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 285.00 Take Profit 1: 280.00 Take Profit 2: 275.00 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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