Daily Trading Analysis 08.01.2024

Technical & Fundamental analysis

Trading Analysis of USD/CAD USD/CAD trades with modest gains above mid-1.3300s, lacks bullish conviction Our Analysis: While the price is below 1.3600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3373 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 trades with mild negative bias above 0.6700, eyes on Australian Retail Sales data. Our Analysis: Provided that the currency pair is above 0.6600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6705 Take Profit 1: 0.6800 Take Profit 2: 0.6900 Alternative scenario: In case level 0.6600 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6600 Take Profit 1: 0.6500 Take Profit 2: 0.6400 Learn More Fundamental Trading Analysis of Amazon It's possible that you overlooked it, but Amazon shares made a significant move, quietly gaining 81% in 2023. Our Analysis: As long as the price is above 145.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 144.96 Take Profit 1: 150.00 Take Profit 2: 160.00 Alternative scenario: If the level of 130.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 130.00 Take Profit 1: 123.00 Take Profit 2: 115.00 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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