Daily Trading Analysis 29.05.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD remains mildly offered near 1.3600 as it defends the previous day’s U-turn from a one-month high during Monday’s sluggish Asian session, especially amid the holidays in the US. Our Analysis: While the price is below 1.3475, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3589 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 recovery eyes 0.6550 on mild appreciation to US debt ceiling deal, focus on Aussie inflation, US NFP. Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6549 Take Profit 1: 0.6485 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 Microsoft Microsoft's stock has exhibited impressive performance throughout the year, achieving a remarkable 34.55% rise, surpassing the S&P 500's 9.2% increase. Our Analysis: As long as the price is above 312.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 332.67 Take Profit 1: 340.00 Take Profit 2: 350.00 Alternative scenario: If the level of 312.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 312.00 Take Profit 1: 303.00 Take Profit 2: 295.00 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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