Source: PaxForex Premium Analytics Portal, Technical Insight In a case where the GBP/JPY remains firmer past 164.00, February’s high of near 166.00 could act as the last defense of the pair bears, a break of which could quickly propel the prices towards late 2022 peak surrounding 169.30 before highlighting the 170.00 round figure. GBP/JPY,D1 Pivot: 162.70 Analysis: As long as the price is above 162.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 162.70 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD seesaws around intraday high near 0.6210, up 0.40% on a day, as bulls cheer the previous day’s inability to conquer the 200-DMA support amid early Tuesday. In doing so, the Kiwi pair buyers also benefit from the upbeat oscillators while heading into a short-term key resistance. NZD/USD,D1 Pivot: 0.6210 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6210...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD looks set to test 1.0700 ahead of Fed Powell’s testimony and US Employment. EUR/USD,D1 Pivot: 1.0684 Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0684 Take Profit 1: 1.0500 Take Profit 2: 1.0300 Alternative scenario: If the level 1.0750 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CAD pair kicks off the new week on a subdued note and seesaws between tepid gains/minor losses, around the 1.3600 mark heading into the European session. The pair, meanwhile, remains within Friday's broader trading range and is influenced by a combination of diverging forces. Pivot: 1.3591 Analysis: While the price is below 1.3680, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3591 Take Profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD treads water on a daily basis around 0.6760-70, despite recently picking up bids to pare the early losses heading into Monday’s European session. It’s worth noting that the Aussie pair marked the first weekly gain in three amid broad US Dollar weakness in the last week. AUD/USD,D1 Pivot: 0.6755 Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry...
