Source: PaxForex Premium Analytics Portal, Technical Insight A string of weak economic indicators from the UK economy have dented expectations of more interest rate hikes from the Bank of England (BoE). GBP/CHF,D1 Pivot: 1.0899 Analysis: While the price is below 1.0900, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0899 Take Profit 1: 1.0700 Take Profit 2: 1.0600 Alternative scenario: If the level of 1.0900 is broken-out, follow the recommendations below:...
Source: PaxForex Premium Analytics Portal, Technical Insight As Canadian growth remains subdued and without further BoC tightening, Wells Fargo analysts see the potential for further Canadian dollar weakness over the next several months. NZD/CAD,D1 Pivot: 0.8039 Analysis: As long as the price is below 0.8100 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8039 Take Profit 1: 0.7950 Take Profit 2: 0.7850 Alternative scenario: If the level of 0.8100 is broken-out,...
Source: PaxForex Premium Analytics Portal, Technical Insight Pound Sterling weakens as soft UK data backs BoE rate pause Pivot: 1.6683 Analysis: While the price is above 1.6580, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6683 Take Profit 1: 1.6800 Take Profit 2: 1.6900 Alternative scenario: If level 1.6580 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6580 Take profit 1: 1.6500 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight ECB could commit to further reducing its balance sheet, providing ongoing support to EUR – Crédit Agricole. EUR/CAD,D1 Pivot: 1.4457 Analysis: As long as the price is above 1.4350 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4457 Take Profit 1: 1.4600 Take Profit 2: 1.4700 Alternative scenario: If the level of 1.4350 is broken-down, follow the recommendations below: Time...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY retreated from the weekly high hit on Tuesday at around 159.91 after economic data from the Eurozone (EU) painted a gloomy outlook for the whole economy in the bloc. EUR/JPY,D1 Pivot: 158.83 Analysis: While the price is above 155.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 158.83 Take Profit 1: 160.00 Take Profit 2: 162.00 Alternative scenario: If the level 155.80 is broken-down, follow the...
