Daily Trading Analysis 02.01.2023

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD consolidates around mid-1.3200s, holds above multi-month low touched last week. Our Analysis: While the price is below 1.3600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3251 Take Profit 1: 1.3200 Take Profit 2: 1.3100 Alternative scenario: If level 1.3600 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3600 Take Profit 1: 1.3750 Take Profit 2: 1.3900 Learn More Trading Analysis of AUD/USD AUD/USD hovers around the 0.6800 mark on the first trading day of 2024, US PMI data eyed. Our Analysis: Provided that the currency pair is above 0.6700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6818 Take Profit 1: 0.6900 Take Profit 2: 0.7000 Alternative scenario: In case level 0.6700 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6700 Take Profit 1: 0.6600 Take Profit 2: 0.6500 Learn More Fundamental Trading Analysis of Ripple In 2023, the Ripple cryptocurrency experienced a tumultuous journey. Our Analysis: While the price is below 0.6700, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6265 Take Profit 1: 0.6000 Take Profit 2: 0.5700 Alternative scenario: If level 0.6700 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6700 Take profit 1: 0.6900 Take profit 2: 0.7000 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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