Daily Trading Analysis 13.07.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD UK’s Hunt: High inflation remains a drag anchor on economic growth. Our Analysis: While the price is above 1.6900, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 1.7128 Take Profit 1: 1.7150 Take Profit 2: 1.7300 Alternative scenario: If level 1.6900 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6900 Take profit 1: 1.6800 Take Profit 2: 1.6700 Learn More Trading Analysis of EUR/CAD The ECB remains hawkish and will likely raise its policy rates by a quarter percentage point later in the month due to persistent inflationary pressure in the euro area.ECB’s Visco: More rate hikes are not the only way to curb inflation. Our Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4681 Take Profit 1: 1.4800 Take Profit 2: 1.4900 Alternative scenario: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4600 Take profit 1: 1.4400 Take Profit 2: 1.4300 Learn More Fundamental Trading Analysis of Alibaba Since late 2020, Alibaba has been experiencing underperformance triggered by the blocking of Ant Group's IPO, its financial arm, following disrespectful remarks made by founder Jack Ma towards Chinese financial officials. Our Analysis: As long as the price is above 85.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 93.88 Take Profit 1: 98.00 Take Profit 2: 105.00 Alternative scenario: If the level of 85.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 85.00 Take Profit 1: 82.00 Take Profit 2: 78.00 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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