Source: PaxForex Premium Analytics Portal, Technical Insight The former chief economist of the Bank of England has warned there is “more pain to come” for households and the wider economy as mortgage rate increases hit people’s bank accounts and weigh on spending. GBP/CHF,D1 Pivot: 1.1409 Analysis: While the price is above 1.1100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1409 Take Profit 1: 1.1500 Take Profit 2: 1.1600 Alternative scenario: If...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada has raised its benchmark interest rate again, to 4.5 percent. The move was widely expected by economists as the bank tries to wrestle record-high inflation into submission. It's the eighth time in less than a year that the bank has hiked its trendsetting rate — a move that will make borrowing money more expensive. NZD/CAD,D1 Pivot: 0.8647 Analysis: As long as the price is above 0.8450 follow the recommendations below: Time frame: D1...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England will lift the Bank Rate by 50 basis points on Feb. 2 to 4.00% and then add another 25 basis points in March before pausing, according to a Reuters poll of economists who said the greater risk was that it would do even more. GBP/CAD,D1 Pivot: 1.6640 Analysis: While the price is above 1.6300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6603 Take Profit 1: 1.6850 Take Profit 2: 1.7000...
Source: PaxForex Premium Analytics Portal, Technical Insight European Central Bank President Christine Lagarde has repeatedly used the phrase “staying the course” when referring to upcoming rate decisions, but some market watchers doubt the bank will keep its hawkish stance for much longer. EUR/CAD,D1 Pivot: 1.4633 Analysis: As long as the price is above 1.4250 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4633 Take Profit 1: 1.4700 Take Profit 2: 1.4900...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY snapped two days of consecutive gains and retraced some of its gains as the EUR/JPY clashed with the 100-day Exponential Moving Average (EMA) at 141.83 but could not crack it. Therefore, the cross dived beneath the latter, with Tuesday’s session closing at 141.65. EUR/JPY,D1 Pivot: 141.93 Analysis: While the price is below 140.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 141.93 Take Profit 1:...
