Daily Trading Analysis 05.06.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD kick-starts BoC week on the dicey floor above 1.3400 amid sturdy Oil price, US Dollar. Our Analysis: While the price is above 1.3360, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3438 Take Profit 1: 1.3670 Take Profit 2: 1.3800 Alternative scenario: If level 1.3360 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3360 Take Profit 1: 1.3300 Take Profit 2: 1.3200 Learn More Trading Analysis of AUD/USD AUD/USD rebounds from intraday low of 0.6590 on upbeat China Caixin Services PMI, US data, RBA eyed. Our Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6602 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 Alphabet Alphabet's heavy reliance on digital advertising can be advantageous during prosperous economic periods, but it poses challenges during weaker ones.  Our Analysis: As long as the price is above 120.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 124.57 Take Profit 1: 130.00 Take Profit 2: 135.00 Alternative scenario: If the level of 120.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 120.00 Take Profit 1: 116.00 Take Profit 2: 112.00 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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