Daily Trading Analysis 10.08.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Pound will come under depreciation pressure in the medium term – Commerzbank. Our Analysis: While the price is above 1.6900, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 1.7057 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 Consumer expectations for euro-area inflation fell in June but remained above the European Central Bank’s 2% target as officials ponder whether to continue their unprecedented bout of interest-rate hikes. Our Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4729 Take Profit 1: 1.4800 Take Profit 2: 1.4900 Alternative scenario: If the level of 1.4500 is broken-down, 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 Alibaba Alibaba was previously regarded as a promising investment opportunity tied to China's extensive growth prospects. Our Analysis: As long as the price is above 90.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 94.60 Take Profit 1: 102.00 Take Profit 2: 109.00 Alternative scenario: If the level of 90.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 90.00 Take Profit 1: 85.00 Take Profit 2: 79.00 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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