Source: PaxForex Premium Analytics Portal, Technical Insight Mounting hawkish Bank of England (BoE) bets are failing to provide a cushion to the Pound Sterling. GBP/CHF,D1 Pivot: 1.1225 Analysis: While the price is above 1.1070, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1225 Take Profit 1: 1.1375 Take Profit 2: 1.1540 Alternative scenario: If the level of 1.1070 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight The RBNZ raised rates by a half-point on Wednesday, as the central bank remains aggressive in its battle to curb inflation. The move was in line with expectations and the New Zealand dollar moved higher but quickly pared those gains. The increase brings the cash rate to 4.75%, its highest level since 2009. With inflation running at a 7.2% clip, the RBNZ will have to keep raising rates until there is clear evidence that inflation has peaked. NZD/CAD,D1 Pivot: 0.8439...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada may have room to hold interest rates at its next March meeting after one of the key inflation indicators it tracks showed some relief in January. GBP/CAD,D1 Pivot: 1.6315 Analysis: While the price is above 1.6100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6315 Take Profit 1: 1.6385 Take Profit 2: 1.6550 Alternative scenario: If level 1.6100 is broken-down, follow the recommendations...
Source: PaxForex Premium Analytics Portal, Technical Insight European Central Bank President Christine Lagarde announced that the central bank is ready to hike interest rates further by 50 bps to 3.50% in March. EUR/CAD,D1 Pivot: 1.4364 Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4364 Take Profit 1: 1.4570 Take Profit 2: 1.4700 Alternative scenario: If the level of 1.4250 is broken-down, follow the recommendations below...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/JPY hit a fresh year-to-date (YTD) high at 144.16 on Tuesday, closing the session with gains of 0.26%. However, as Wednesday’s Asian Pacific session begins, the EUR/JPY exchanges hands at 143.70, below its opening price by a minuscule 0.03%. EUR/JPY,D1 Pivot: 143.58 Analysis: While the price is above 143.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 143.58 Take Profit 1: 145.60 Take Profit 2:...
