Source: PaxForex Premium Analytics Portal, Technical Insight According to the latest data published by the UK’s National Statistics, the final Gross Domestic Product (GDP) for the second quarter came in at 0.2% QoQ, matching the initial estimate of 0.2% and following a 0.2% expansion in the previous reading. .GBP/CHF,D1 Pivot: 1.1165 Analysis: While the price is below 1.1240, follow the recommendations below: Time frame: D1 Recommendation: shorts position Entry point: 1.1165 Take Profit 1: 1.1075 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight RBNZ meeting is the next signpost in this volatile journey – ANZ. NZD/CAD,D1 Pivot: 0.8034 Analysis: As long as the price is below 0.8260 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8034 Take Profit 1: 0.7950 Take Profit 2: 0.7850 Alternative scenario: If the level of 0.8260 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8260 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The Pound Sterling (GBP) extends its losing spell as investors foresee the United Kingdom economy shifting into a recession due to deteriorating labor market conditions and a poor demand outlook. Pivot: 1.6392 Analysis: While the price is below 1.6580, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6392 Take Profit 1: 1.6300 Take Profit 2: 1.6200 Alternative scenario: If level 1.6580 is broken-out,...
Source: PaxForex Premium Analytics Portal, Technical Insight European Central Bank (ECB) board member Frank Elderson said in an interview with Market News International on Wednesday, interest rates could still go higher, if necessary. EUR/CAD,D1 Pivot: 1.4186 Analysis: As long as the price is below 1.4350 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4186 Take Profit 1: 1.4100 Take Profit 2: 1.4000 Alternative scenario: If the level of 1.4350 is broken-out,...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY struggles below 158.00, eyeing further short-term downside. EUR/JPY,D1 Pivot: 157.51 Analysis: While the price is above 155.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 157.51 Take Profit 1: 160.00 Take Profit 2: 162.00 Alternative scenario: If the level 155.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 155.80 Take profit 1:...
