Daily Trading Analysis 11.12.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD moves upward near 1.3600, focus on US CPI, Fed policy decision. Our Analysis: While the price is below 1.3650, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3592 Take Profit 1: 1.3500 Take Profit 2: 1.3400 Alternative scenario: If level 1.3650 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3650 Take Profit 1: 1.3820 Take Profit 2: 1.3900 Learn More Trading Analysis of AUD/USD AUD/USD remains capped below the 0.6600 barrier ahead of the RBA’s Bullock speech, US CPI data. Our Analysis: Provided that the currency pair is above 0.6500, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6562 Take Profit 1: 0.6700 Take Profit 2: 0.6800 Alternative scenario: In case level 0.6500 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6500 Take Profit 1: 0.6400 Take Profit 2: 0.6300 Learn More Fundamental Trading Analysis of Bank of America In recent times, Bank of America hasn't been a stellar stock, underperforming the S&P 500 in the one-, three-, five-, and 10-year periods Our Analysis: As long as the price is above 29.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 30.72 Take Profit 1: 32.00 Take Profit 2: 33.00 Alternative scenario: If the level of 29.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 29.00 Take Profit 1: 28.00 Take Profit 2: 27.00 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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