Source: PaxForex Premium Analytics Portal, Technical Insight The UK economy seems to narrowly avoid a negative GDP growth in Q1 as well as the February print showed +0.1% on a 3M/3M basis at same time as the data from January was revised higher. GBP/CHF,D1 Pivot: 1.1150 Analysis: While the price is below 1.1200, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1150 Take Profit 1: 1.1075 Take Profit 2: 1.1000 Alternative scenario: If the level of 1.1200 is broken-out,...
Source: PaxForex Premium Analytics Portal, Technical Insight RBNZ’s Orr: New Zealand farms face challenges as interest rates rise. NZD/CAD,D1 Pivot: 0.8517 Analysis: As long as the price is below 0.8400 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8517 Take Profit 1: 0.8560 Take Profit 2: 0.8610 Alternative scenario: If the level of 0.8400 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8400...
Source: PaxForex Premium Analytics Portal, Technical Insight UK economists expect just one more quarter-point rate hike from the Bank of England even though inflation is stuck in double digits and investors are bracing for a round of increases lasting through the summer. GBP/CAD,D1 Pivot: 1.1708 Analysis: While the price is above 1.6870, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7108 Take Profit 1: 1.7150 Take Profit 2: 1.7250 Alternative scenario: If level 1.6870...
Source: PaxForex Premium Analytics Portal, Technical Insight The European Central Bank is expected to lift its benchmark rate by a smaller step of 25 basis points Thursday, as core inflation declines and its own survey data points to much tighter financial conditions in the region. EUR/CAD,D1 Pivot: 1.5081 Analysis: As long as the price is above 1.4930 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5081 Take Profit 1: 1.5100 Take Profit 2: 1.5250 Alternative scenario:...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY advances further and surpasses the 151.00 mark for the first time since September 2008. The underlying strong upside momentum in the cross appears unchallenged for the time being. Against that, the continuation of the upward bias should meet the next hurdle of note at the September 2008 high at 159.62 EUR/JPY,D1 Pivot: 149.96 Analysis: While the price is above 146.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry...
