Source: PaxForex Premium Analytics Portal, Technical Insight On Thursday, the Bank of England (BoE) hiked the policy rate by 50 basis points to 4.00%. Analysts at Danske Bank expect the increasingly weak growth outlook to support a near-term ending to the hiking cycle. GBP/CHF,D1 Pivot: 1.1170 Analysis: While the price is above 1.1100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1170 Take Profit 1: 1.1400 Take Profit 2: 1.1500 Alternative scenario: If the level of 1...
Source: PaxForex Premium Analytics Portal, Technical Insight New Zealand: the labor market has reached a turning point, RBNZ to hike 50 bps – Westpac. NZD/CAD,D1 Pivot: 0.8633 Analysis: As long as the price is above 0.8450 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8633 Take Profit 1: 0.8730 Take Profit 2: 0.8880 Alternative scenario: If the level of 0.8450 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England is expected to increase the interest rate by 50 basis points. There are two important things to focus on here: firstly, the bank’s take on the interest rate and how long it thinks inflation will take to come close to its target. Secondly, where is the upper limit of the bank’s interest rate. GBP/CAD,D1 Pivot: 1.6457 Analysis: While the price is above 1.6300, follow the recommendations below: Time frame: D1 Recommendation: long...
Source: PaxForex Premium Analytics Portal, Technical Insight The Canadian dollar recouped losses after November’s GDP beat expectations. EUR/CAD,D1 Pivot: 1.4625 Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4625 Take Profit 1: 1.4700 Take Profit 2: 1.4900 Alternative scenario: If the level of 1.4250 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight During the last seven days, the EUR/JPY pair has been unable to reach new highs, above the January 25 daily high at 142.29, exacerbating a consolidation within the 20 and 50-day EMA. Backed by the Relative Strength Index (RSI) and the Rate of Change (RoC) almost flat at neutral levels, the EUR/JPY pair would remain trendless, awaiting the Europen Central Bank (ECB) monetary policy on Thursday. EUR/JPY,D1 Pivot: 141.79 Analysis: While the price is below 140.80,...
