Daily Trading Analysis 07.08.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD edges higher towards 1.3400 as US Dollar recovers ahead of US inflation, Oil price eases. Our Analysis: While the price is below 1.3475, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3379 Take Profit 1: 1.3075 Take Profit 2: 1.2900 Alternative scenario: If level 1.3475 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3475 Take Profit 1: 1.3670 Take Profit 2: 1.3800 Learn More Trading Analysis of AUD/USD AUD/USD posts modest gains around the 0.6570 mark, Australia/US inflation eyed. Our Analysis: Provided that the currency pair is above 0.6500, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6572 Take Profit 1: 0.6700 Take Profit 2: 0.6800 Alternative scenario: In case level 0.6500 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6500 Take Profit 1: 0.6450 Take Profit 2: 0.6350 Learn More Fundamental Trading Analysis of Alphabet Investors warmly welcomed Alphabet's latest financial report, which showcased impressive results. Our Analysis: As long as the price is above 123.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 127.98 Take Profit 1: 133.50 Take Profit 2: 140.00 Alternative scenario: If the level of 123.00 is broken-down, follow the recommendations below:   Time frame: D1 Recommendation: short position Entry point: 123.00 Take Profit 1: 119.00 Take Profit 2: 115.00 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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