Daily Trading Analysis 05.09.2023

Technical & Fundamental analysis

Trading Analysis of NZD/USD NZD/USD drops to the 0.5900 mark, US soft landing concern ahead of the US CPI data. Our Analysis: While the price is below 0.6000, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.5914 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: Another lurch lower for the ZEW could break out the tentative bounce to 1.0750 – SocGen. Our Analysis: While the price is below 1.0950, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0732 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 Apple As one of the world's premier businesses, Apple has predictably emerged as one of the most lucrative investment opportunities. Our Analysis: As long as the price is above 172.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 178.88 Take Profit 1: 189.00 Take Profit 2: 198.00 Alternative scenario: If the level of 172.00 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 172.00 Take Profit 1: 164.00 Take Profit 2: 156.00 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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