Source: PaxForex Premium Analytics Portal, Technical Insight GBP/JPY bulls take a breather around 163.30, after rising the most in seven days during early Wednesday. The cross-currency pair’s latest gains could be linked to the upbeat UK data and hawkish concerns surrounding the Bank of England (BoE). GBP/JPY,D1 Pivot: 163.15 Analysis: As long as the price is above 162.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 163.15 Take profit 1: 165.00 Take Profit 2:...
Source: PaxForex Premium Analytics Portal, Technical Insight The NZD/USD pair has slipped below 0.6240 in the early European session. The Kiwi asset is expected to continue its downside movement as anxiety among investors is soaring ahead of the opening of the US markets after an extended weekend. NZD/USD,D1 Pivot: 0.6218 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6218 Take Profit 1: 0.6360 Take Profit 2: 0.6520 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/USD pair has slipped to near 1.0660 in the Asian session as the risk appetite of the market participants has trimmed ahead of the global PMI figures. Investors are worried that higher interest rates by the majority of central banks in taming the stubborn inflation have impacted the scale of economic activities. EUR/USD,D1 Pivot: 1.0668 Analysis: While the price is below 1.0750, follow the recommendations below: Time frame: D1 Recommendation: short...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD bulls take a breather around 1.3480, following the run-up to refresh the monthly high, as the upside momentum failed to cross the key resistance confluence the previous day. Pivot: 1.3471 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3471 Take Profit 1: 1.3300 Take Profit 2: 1.3225 Alternative scenario: If the level 1.3500 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair has refreshed its day’s high above 0.6880 in the Asian session as the People’s Bank of China (PBoC) has kept the Loan Prime Rate (LPR) unchanged. The one-year LPR has kept stable at 3.65%, and the five-year LPR is unchanged at 4.30%. AUD/USD,D1 Pivot: 0.6911 Analysis: Provided that the currency pair is above 0.6860, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6875 Take Profit 1:...
