Source: PaxForex Premium Analytics Portal, Technical Insight The UK Retail Sales dropped 1.2% over the month in July vs. -0.5% expected and 0.6% prior, according to the latest data published by the Office for National Statistics (ONS) on Friday. .GBP/CHF,D1 Pivot: 1.1173 Analysis: While the price is below 1.1240, follow the recommendations below: Time frame: D1 Recommendation: shorts position Entry point: 1.1173 Take Profit 1: 1.1075 Take Profit 2: 1.1025 Alternative scenario: If the level of 1.1240 is broken-...
Source: PaxForex Premium Analytics Portal, Technical Insight The waning of a factor helping to push down inflation means the Bank of Canada will be relying on a pronounced slowdown in the economy this fall to keep prices from rising more, experts say. NZD/CAD,D1 Pivot: 0.8028 Analysis: As long as the price is below 0.8260 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8028 Take Profit 1: 0.7950 Take Profit 2: 0.7850 Alternative scenario: If the level of 0.8260 is...
Source: PaxForex Premium Analytics Portal, Technical Insight Yesterday’s inflation data from the UK has lifted sterling but put UK-focussed stocks on the back foot. While headline inflation numbers may look better, the resilience of core CPI means the BoE may have to work harder to fight inflation, risking a bigger downturn in the UK economy. Pivot: 1.7217 Analysis: While the price is above 1.7000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7217 Take Profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight Any additional interest-rate increases by the European Central Bank won’t be big, according to Governing Council member Martins Kazaks, who’s undecided on what’s needed when officials meet next month. EUR/CAD,D1 Pivot: 1.4711 Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4711 Take Profit 1: 1.4800 Take Profit 2: 1.4900 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY consolidates below the multi-year peak touched on Tuesday, bullish bias remains. EUR/JPY,D1 Pivot: 158.79 Analysis: While the price is above 155.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 158.28 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...
