Daily Trading Analysis 31.08.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The British pound's recent movements have been conspicuously tethered to global dynamics, owing to the conspicuous absence of noteworthy domestic data releases. Our Analysis: While the price is above 1.7000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7110 Take Profit 1: 1.7300 Take Profit 2: 1.7400 Alternative scenario: If level 1.7000 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.7000 Take profit 1: 1.6900 Take Profit 2: 1.6800 Learn More Trading Analysis of EUR/CAD nflation remains a driver of European financial markets, and the latest estimates point to stubbornly high consumer prices in Germany despite a continued fall in import prices. Our Analysis: As long as the price is above 1.4650 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4776 Take Profit 1: 1.4900 Take Profit 2: 1.5000 Alternative scenario: If the level of 1.4650 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4650 Take profit 1: 1.4550 Take Profit 2: 1.4480 Learn More Fundamental Trading Analysis of Bitcoin Following an impressive surge at the beginning of 2023, Bitcoin's momentum is being tempered by ongoing macroeconomic uncertainties and other factors.  Our Analysis: As long as the price is above 25000.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 27197.00 Take Profit 1: 29000.00 Take Profit 2: 31800.00 Alternative scenario: If the 25000.00 level is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 25000.00 Take Profit 1: 23500.00 Take Profit 2: 21500.00 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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