Source: PaxForex Premium Analytics Portal, Technical Insight The GBP/JPY registers a minimal upside as Wednesday’s Asian session begins. On Tuesday, the GBP/JPY printed losses of 0.35% and formed an inverted hammer, meaning that further downside is expected. GBP/JPY,D1 Pivot: 164.20 Analysis: As long as the price is above 162.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 164.20 Take profit 1: 165.00 Take Profit 2: 169.00 Alternative scenario: If the level...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD eyes more downside to near 0.6130 as risk-on impulse retreats, US PMI in focus. NZD/USD,D1 Pivot: 0.6140 Analysis: While the price is below 0.6180, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6140 Take Profit 1: 0.6000 Take Profit 2: 0.5850 Alternative scenario: If the level 0.6180 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0....
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD is recovering ground above 1.0600 in early Europe. The pair is resuming its recovery despite resurgent US Dollar demand and a cautious market mood. ECB official Lane joined the chorus for a 50 bps rate hike in March. US data is next in focus. EUR/USD,D1 Pivot: 1.0590 Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0593 Take Profit 1: 1.0500 Take Profit 2: 1.0300...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CAD pair attracts some buying following an intraday dip to sub-1.3600 levels on Monday and hits a fresh daily high during the early European session. The pair is currently placed around the 1.3625 region, though remains below its highest level since January 6 touched on Friday. Pivot: 1.3619 Analysis: While the price is below 1.3680, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3619 Take Profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair has refreshed its seven-week low near the round-level support of 0.6700. More downside in the Aussie asset looks favored as investors are channelizing their funds into the US Dollar Index (DXY). AUD/USD,D1 Pivot: 0.6911 Analysis: Provided that the currency pair is below 0.6800, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6698 Take Profit 1: 0.6650 Take Profit 2: 0.6550 Alternative scenario...
