Daily Trading Analysis 23.05.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD: Kiwi buyers flex muscles despite recent inaction below 0.6300. Our Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6281 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: The diminishing probability of a breach of 1.0750 – UOB Group. Our Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0808 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 Alibaba After Alibaba released its latest earnings report on May 18th, the company's stock experienced a 5% decline. Our Analysis: As long as the price is above 82.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 85.94 Take Profit 1: 89.00 Take Profit 2: 91.00 Alternative scenario: If the level of 82.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 82.00 Take Profit 1: 89.00 Take Profit 2: 91.00 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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