Daily Trading Analysis 20.07.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD Britain's high rate of inflation fell by more than expected in June and was its slowest in over a year at 7.9%, according to data that will ease some of the pressure on the Bank of England to keep on raising interest rates sharply Our Analysis: While the price is above 1.6900, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 1.7013 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 Canadian Dollar (CAD) trades lower after Crude Oil prices give up their gains on the back of US data showing a lower-than-expected Oil inventory draw. Our Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4751 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 Verizon Verizon, the leading telecommunications company in the United States, recorded an impressive $137 billion in revenue during 2022. Our Analysis: As long as the price is above 31.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 33.88 Take Profit 1: 36.00 Take Profit 2: 39.00 Alternative scenario: If the level of 31.00 is broken-down, follow the recommendations below:     Time frame: D1 Recommendation:short position Entry point: 31.00 Take Profit 1: 29.00 Take Profit 2: 26.00 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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