Daily Trading Analysis 27.07.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Pound Sterling (GBP) discovers novel offers after printing a fresh four-day high as market participants shrug off risk associated with weak economic prospects. Our Analysis: While the price is above 1.6900, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 1.7062 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 Short-term interest rate markets and economists are both expecting the ECB to hike rates by 25bps. Our Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4619 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: 1.4500 Take profit 1: 1.4400 Take Profit 2: 1.4300 Learn More Fundamental Trading Analysis of Johnson&Johnson Johnson & Johnson experienced a significant surge of 6% in its share value during a single trading session last week.  Our Analysis: As long as the price is above 167.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 172.64 Take Profit 1: 175.00 Take Profit 2: 180.00 Alternative scenario: If the level of 167.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 167.00 Take Profit 1: 163.00 Take-profit 2: 160.00 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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