Daily Trading Analysis 05.09.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD continues the losing streak, falling below 0.5900. Our Analysis: While the price is below 0.6000, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.5880 Take Profit 1: 0.5800 Take Profit 2: 0.5700 Alternative scenario: If level 0.6000 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6000 Take Profit 1: 0.6050 Take Profit 2: 0.6100 Learn More Trading Analysis of EUR/USD EUR/USD prods 1.0780 key support with eyes on ECB’s Lagarde, Eurozone PPI and US data. Our Analysis: While the price is below 1.0950, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0761 Take Profit 1: 1.0650 Take Profit 2: 1.0550 Alternative scenario: If level 1.0950 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0950 Take Profit 1: 1.1065 Take Profit 2: 1.1150 Learn More Fundamental Trading Analysis of Ethereum Roughly one year since it successfully completed The Merge, Ethereum appears to be losing favor among cryptocurrency investors. Our Analysis: As long as the price is above 1540.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1619.50 Take Profit 1: 1805.00 Take Profit 2: 1920.00 Alternative scenario: If the 1540.00 level is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1540.00 Take Profit 1: 1460.00 Take Profit 2: 1360.00 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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