Daily Trading Analysis 22.05.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD rebounds from 1.3480 support amid downbeat Oil price, focus on US debt ceiling talks. Our Analysis: While the price is below 1.3475, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3506 Take Profit 1: 1.3670 Take Profit 2: 1.3800 Alternative scenario: If the level 1.3475 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3475 Take Profit 1: 1.3300 Take Profit 2: 1.3200 Learn More Trading Analysis of AUD/USD AUD/USD sees upside above 0.6650 as US Biden calls Republicans’ offer unacceptable. Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6636 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 Cisco Systems Cisco Systems released its most recent earnings report on May 17th. In the third quarter of fiscal 2023, which concluded on April 29th, the leading networking company witnessed a remarkable 14% year-over-year increase in revenue, amounting to $14.6 billion.  Our Analysis: As long as the price is above 46.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 49.00 Take Profit 1: 51.00 Take Profit 2: 52.00 Alternative scenario: If the level of 49.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 49.00 Take profit 1: 44.00 Take Profit 2: 42.00 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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