Source: PaxForex Premium Analytics Portal, Technical Insight The monthly upbeat UK jobs data underpins the Sterling and acts as a tailwind for the cross. GBP/JPY,D1 Pivot: 161.98 Analysis: As long as the price is above 158.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 161.98 Take profit 1: 163.00 Take Profit 2: 165.00 Alternative scenario: If the level of 158.50 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD takes offers to refresh intraday low near 0.6330 as New Zealand data disappoints Kiwi buyers during early Tuesday. In doing so, the quote also justifies the mildly offbeat mood and hawkish hopes from the US Federal Reserve (Fed) ahead of the US Consumer Price Index (CPI) for January. NZD/USD,D1 Pivot: 0.6361 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6361...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD advances towards 1.0770 as USD Index struggles to find cushion ahead of US CPI EUR/USD,D1 Pivot: 1.0722 Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0722 Take Profit 1: 1.0900 Take Profit 2: 1.1000 Alternative scenario: If the level 1.0700 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The Canadian Dollar was the third best-performing currency in G10 in January. Economists at ING expect the USD/CAD pair to dip below 1.30 in the second quarter. Pivot: 1.3500 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3341 Take Profit 1: 1.3300 Take Profit 2: 1.3225 Alternative scenario: If the level 1.3500 is broken-out, follow the recommendations below:...
Source: PaxForex Premium Analytics Portal, Technical Insight The Australian Dollar has been a solid performer in recent months and is up 11% from its October 2022 low. Economists at Wells Fargo believe this positive trend can continue and forecast AUD/USD at 0.7800 by mid-2024. 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: 0.6911 Take Profit 1: 0.7200 Take Profit 2: 0.7150 Alternative...
