Source: PaxForex Premium Analytics Portal, Technical Insight Market expectations for peak interest rates have fallen below 6 percent ahead of the Bank of England’s (BoE) rate-setting meeting next week. July data showed that the headline rate of UK inflation fell further than anticipated to 7.9 percent. .GBP/CHF,D1 Pivot: 1.1113 Analysis: While the price is below 1.1240, follow the recommendations below: Time frame: D1 Recommendation: shorts position Entry point: 1.1113 Take Profit 1: 1.1075 Take Profit 2...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada's (BoC) latest survey showed that most market participants expect the BoC to hold its policy rate at 5% until the end of 2023, as reported by Reuters. NZD/CAD,D1 Pivot: 0.8143 Analysis: As long as the price is below 0.8260 follow the recommendations below Time frame: D1 Recommendation: short position Entry point: 0.8143 Take Profit 1: 0.8100 Take Profit 2: 0.8025 Alternative scenario: If the level of 0.8260 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The Pound Sterling (GBP) discovers novel offers after printing a fresh four-day high as market participants shrug off risk associated with weak economic prospects. Pivot: 1.7062 Analysis: While the price is above 1.6900, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 1.7062 Take Profit 1: 1.7150 Take Profit 2: 1.7300 Alternative scenario: If level 1.6900 is broken-down, follow the recommendations below: Time...
Source: PaxForex Premium Analytics Portal, Technical Insight Short-term interest rate markets and economists are both expecting the ECB to hike rates by 25bps. EUR/CAD,D1 Pivot: 1.4619 Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4619 Take Profit 1: 1.4800 Take Profit 2: 1.4900 Alternative scenario: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: short ...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY snaps two-day losing streak below 156.00 amid firmer yields, ignores IMF’s push for hawkish BoJ move. EUR/JPY,D1 Pivot: 155.95 Analysis: While the price is above 151.60, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 155.95 Take Profit 1: 156.85 Take Profit 2: 159.00 Alternative scenario: If the level 151.60 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short...
