Daily Trading Analysis 21.08.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD consolidates above the 1.3500 area, Canadian Retail Sales, Jackson Hole eyed. Our Analysis: While the price is above 1.3300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3542 Take Profit 1: 1.3670 Take Profit 2: 1.3800 Alternative scenario: If level 1.3300 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3300 Take Profit 1: 1.3200 Take Profit 2: 1.3100 Learn More Trading Analysis of AUD/USD AUD/USD oscillates in a narrow band around 0.6400, reacting little to PBoC's 10 bps rate cut. Our Analysis: Provided that the currency pair is below 0.6600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6407 Take Profit 1: 0.6350 Take Profit 2: 0.6250 Alternative scenario: In case level 0.6600 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6600 Take Profit 1: 0.6700 Take Profit 2: 0.6800 Learn More Fundamental Trading Analysis of Cisco Systems Last Thursday, Cisco Systems experienced a 3% increase in its stock value subsequent to the release of its most recent earnings report. Our Analysis: As long as the price is above 52.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 54.92 Take Profit 1: 56.00 Take Profit 2: 58.00 Alternative scenario: If the level of 52.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 52.00 Take profit 1: 50.00 Take Profit 2: 48.00 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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