Daily Trading Analysis 07.09.2023

Technical & Fundamental analysis

Trading Analysis of GBP/CAD The Bank of Canada (BoC) announced on Wednesday that it left the benchmark interest rate unchanged at 5% following the September policy meeting. This decision came in line with the market expectations. Our Analysis: While the price is above 1.7000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7015 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 ECB to deliver final rate hike next week – Danske Bank. Our Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4618 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: 1.4330 Learn More Fundamental Trading Analysis of Johnson & Johnson You're likely familiar with Johnson & Johnson, a household name thanks to products like Band-Aid bandages and Tylenol that may reside in your medicin Our Analysis: As long as the price is above 154.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 157.91 Take Profit 1: 162.00 Take Profit 2: 165.00 Alternative scenario: If the level of 154.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 154.00 Take Profit 1: 150.00 Take-profit 2: 146.00 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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