Daily Trading Analysis 23.02.2024

Technical & Fundamental analysis

Trading Analysis of GBP/CAD UK PMIs to keep the Pound somewhat supported – Commerzbank.  Our Analysis: While the price is above 1.6900, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7074 Take Profit 1: 1.7200 Take Profit 2: 1.7300 Alternative scenario: If level 1.6900 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6900 Take profit 1: 1.6800 Take Profit 2: 1.6700 Learn More Trading Analysis of EUR/CAD ECB: June remains the most likely timing for the first cut – Nordea. Our Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4596 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: 1.4300 Learn More Fundamental Trading Analysis of Procter & Gamble Few companies boast valuations exceeding $1 trillion, typically dominating the high-growth tech sector. Our Analysis: As long as the price is above 155.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.48 Take Profit 1: 165.00 Take Profit 2: 170.00 Alternative scenario: If the level of 155.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 155.00 Take Profit 1: 150.00 Take Profit 2: 145.00 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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