Source: PaxForex Premium Analytics Portal, Technical Insight Bank of Canada's Beaudry: Core inflation and excess demand led to interest rate hike. GBP/CAD,D1 Pivot: 1.6773 Analysis: While the price is above 1.6650, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6773 Take Profit 1: 1.7150 Take Profit 2: 1.7400 Alternative scenario: If level 1.6650 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6650...
Source: PaxForex Premium Analytics Portal, Technical Insight The ECB meeting next week will be peculiar, with a risk of no market reaction. On the one hand, the decision has already been well-telegraphed and on the other hand guidance is likely a ‘one-sided’ risk for markets. Hawkish tunes from Lagarde on the back staff projections are at risk of being disregarded mainly by markets. EUR/CAD,D1 Pivot: 1.4407 Analysis: As long as the price is below 1.4600 follow the recommendations below: Time frame: D1...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England said it was ending its programme of corporate bond sales, after offloading almost all of the 20 billion pounds ($24.8 billion) it bought as part of its quantitative easing (QE) programme. GBP/CHF,D1 Pivot: 1.1323 Analysis: While the price is above 1.1130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1323 Take Profit 1: 1.1390 Take Profit 2: 1.1500 Alternative scenario: If the level...
Source: PaxForex Premium Analytics Portal, Technical Insight Bank of Canada policymakers surprised at yesterday's monetary policy announcement, lifting the policy interest rate 25 bps to 4.75% at yesterday's meeting. NZD/CAD,D1 Pivot: 0.8080 Analysis: As long as the price is below 0.8260 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8080 Take Profit 1: 0.8000 Take Profit 2: 0.7900 Alternative scenario: If the level of 0.8260 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY holds above the 20-day SMA after finding support at 148.80. EUR/JPY,D1 Pivot: 148.77 Analysis: While the price is above 146.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 148.77 Take Profit 1: 151.50 Take Profit 2: 153.00 Alternative scenario: If the level 146.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 146.80 Take profit 1:...
