Daily Trading Analysis 05.01.2024

Technical & Fundamental analysis

Trading Analysis of GBP/CHF Deepening UK recession fears could imapct the Pound Sterling ahead. Our Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0791 Take Profit 1: 1.0900 Take Profit 2: 1.1000 Alternative scenario: If the level of 1.0700 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0700 Take profit 1: 1.0600 Take profit 2: 1.0500 Learn More Trading Analysis of NZD/CAD The Canadian Dollar is mostly flat on Thursday as markets focus elsewhere in the run-up to Friday’s US Nonfarm Payrolls print. Our Analysis: As long as the price is above 0.8200 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8314 Take Profit 1: 0.8450 Take Profit 2: 0.8550 Alternative scenario: If the level of 0.8200 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8200 Take profit 1: 0.8100 Take profit 2: 0.8000 Learn More Fundamental Trading Analysis of 3M In December, shares of industrial conglomerate 3M experienced a modest increase of just over 10%, as reported by S&P Global Market Intelligence. Our Analysis: As long as the price is above 105.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 107.92 Take Profit 1: 110.00 Take Profit 2: 113.00 Alternative scenario: If the level of 105.00 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 105.00 Take Profit 1: 101.00 Take Profit 2: 98.00 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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