Sunday, June 16, 2024

Daily Trading Analysis 17.06.2024

Trading Analysis of USD/CAD

USD/CAD steadily climbs back closer to mid-1.3700s, upside potential seems limited.







Our Analysis:


While the price is above 1.3600, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 1.3741
  • Take Profit 1: 1.3800
  • Take Profit 2: 1.3900


Alternative scenario:


If level 1.3600 is broken-down, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 1.3600
  • Take Profit 1: 1.3500
  • Take Profit 2: 1.3400


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Trading Analysis of AUD/USD

AUD/USD posts modest gains above 0.6600 amid weak UoM Consumer Sentiment data.







Our Analysis:


Provided that the currency pair is above 0.6500, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 0.6603
  • Take Profit 1: 0.6800
  • Take Profit 2: 0.6900


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: 0.6300
  • Take Profit 2: 0.6200


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Fundamental Trading

Analysis of Oracle

Oracle may not be the largest cloud services provider, but it's currently one of the fastest-growing.

















Our Analysis:


While the price is above 125.00, follow the recommendations below:

  • Time frame: D1
  • Recommendation: long position
  • Entry point: 137.93
  • Take Profit 1: 143.00
  • Take Profit 2: 147.00


Alternative scenario:


If level 125.00 is broken-down, follow the recommendations below:

  • Time frame: D1
  • Recommendation: short position
  • Entry point: 125.00
  • Take Profit 1: 115.00
  • Take Profit 2: 110.00
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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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WHAT YOU NEED TO KNOW TODAY: MONDAY, JUNE 17, 2024

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How Marketplace Models Are Driving Growth in Beauty

At The Business of Beauty Global Forum, Alex Carmody, marketplace partnership VP of brand strategy at global commerce accelerator Front Row, shared insights on how marketplaces can be used to build routes to core customers.

"Gen-Z and Gen Alpha will encounter a product on TikTok and while they will do some research on DTC websites, they are bypassing Google and going straight to Amazon to directly search for the brand," Carmody shared on stage.

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