Source: PaxForex Premium Analytics Portal, Technical Insight United Kingdom’s Office for National Statistics has reported a contraction in monthly Gross Domestic Product (GDP) May figures by 0.1% against the consensus of a 0.3% contraction. In April, monthly GDP expanded by 0.2%. GBP/CHF,D1 Pivot: 1.1263 Analysis: While the price is above 1.1250, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1263 Take Profit 1: 1.1450 Take Profit 2: 1.1500 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight New Zealand: RBNZ holds OCR at 5.50% - UOB Group. NZD/CAD,D1 Pivot: 0.8377 Analysis: As long as the price is above 0.8170 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8377 Take Profit 1: 0.8400 Take Profit 2: 0.8500 Alternative scenario: If the level of 0.8170 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8170 Take profit 1: 0.8100 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight UK’s Hunt: High inflation remains a drag anchor on economic growth. Pivot: 1.7128 Analysis: While the price is above 1.6900, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 1.7128 Take Profit 1: 1.7150 Take Profit 2: 1.7300 Alternative scenario: If level 1.6900 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6900 Take profit 1: 1.6800 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The ECB remains hawkish and will likely raise its policy rates by a quarter percentage point later in the month due to persistent inflationary pressure in the euro area. EUR/CAD,D1 Pivot: 1.4681 Analysis: As long as the price is above 1.4500 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4681 Take Profit 1: 1.4800 Take Profit 2: 1.4900 Alternative scenario: As long as the price is above 1.4500 follow...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY bears take command and threaten the 154.00 zone. EUR/JPY,D1 Pivot: 153.83 Analysis: While the price is above 151.60, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 153.83 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 position Entry point: 151.60 Take profit 1: 150.40 Take...
