Daily Trading Analysis 14.10.2021

Technical & Fundamental analysis

Trading Analysis of GBP/CAD According to Danske Bank, Loonie might get support from market expectations regarding a rate hike by the Bank of Canada. These expectations are built into the price and might hold up. Experts believe the Central Bank of Canada will raise the rate in the 3rd quarter of 2022 and then implement 3 more rate hikes before the end of 2023. Our Analysis: While the price is below 1.7183, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6996 Take Profit 1: 1.6854 Take Profit 2: 1.6624 Alternative scenario: If the level 1.7183 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7183 Take profit 1: 1.7416 Take Profit 2: 1.7555 Learn More Trading Analysis of EUR/CAD Reuters reports that Central Bank governor and ECB official Peter Kazimir has been charged with bribery. Our Analysis: As long as price is below 1.4650 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4427 Take Profit 1: 1.4329 Take Profit 2: 1.4084 Alternative scenario: If the level of 1.4650 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4650 Take profit 1: 1.4917 Take Profit 2: 1.5075 Learn More Fundamental Trading Analysis of Home Depot As people stayed home longer than ever during the pandemic, repair costs soared. Not surprisingly, Home Depot was a major winner of this consumer behavior, generating $144.4 billion in revenue in 12 months. Our Analysis: As long as the price is above the 330.00 level, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 338.00 Take Profit 1: 352.00 Take Profit 2: 357.00 Alternative scenario: If the level of 330.00 is broken-down, follow the recommendations below:  Time frame: D1 Recommendation: short position Entry point: 330.00 Take Profit 1: 321.00 Take Profit 2: 316.00 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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