Source: PaxForex Premium Analytics Portal, Technical Insight GBP/JPY fades the late Tuesday’s corrective bounce off the 100-bar Simple Moving Average (SMA) as it prints mild losses near the 160.00 psychological magnet during early Wednesday. In doing so, the cross-currency pair keeps the previous week’s retreat from a one-month high. GBP/JPY,D1 Pivot: 160.60 Analysis: As long as the price is above 158.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.60...
Source: PaxForex Premium Analytics Portal, Technical Insight The NZD/USD pair has printed a fresh weekly low at 0.6440 in the Asian session as investors' risk-taking ability has faded dramatically. The Kiwi asset has been dumped by the market participants as the US Dollar Index (DXY) is advancing vertically. NZD/USD,D1 Pivot: 0.6450 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6450 Take Profit 1: 0.6565 Take Profit 2: 0....
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD slides to a one-week low while taking offers around 1.0830 during the early hours of Tuesday morning in Europe. In doing so, the major currency pair declines for the fourth consecutive day while reversing late Monday’s corrective bounce off 1.0838. Also keeping the EUR/USD bears hopeful are the bearish MACD signals and the clear downside break of the three-week-old support line, not to forget sustained trading below the 200-Hour Moving Average (HMA). EUR/...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD picks up bids to refresh intraday high around 1.3325 during the first positive day in three heading into Monday’s European session. In doing so, the Loonie pair takes clues from the downbeat Oil prices, Canada’s main export, as well as a rebound in the US Dollar amid the market’s cautious optimism. Pivot: 1.3337 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair has refreshed its day’s low at 0.7083 as investors have turned risk-averse amid the interest rate decision by the Federal Reserve (Fed) this week. AUD/USD,D1 Pivot: 0.7088 Analysis: Provided that the currency pair is above 0.6860, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7088 Take Profit 1: 0.7200 Take Profit 2: 0.7300 Alternative scenario: In case the level 0.6860 is broken...
