Source: PaxForex Premium Analytics Portal, Technical Insight The GBP/JPY pair sensed a decent buying interest after dropping near the round-level resistance of 160.00. The cross is attempting to extend its recovery meaningfully above 160.50 amid rising expectations for the continuation of bulky interest rate hikes by the Bank of England (BoE) ahead. GBP/JPY,D1 Pivot: 160.26 Analysis: As long as the price is above 158.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160....
Source: PaxForex Premium Analytics Portal, Technical Insight The NZD/USD pair surpassed the psychological resistance of 0.6500 in the early European session. The kiwi asset has picked strength as the US Dollar Index (DXY) has witnessed immense pressure after failing to recapture Monday’s high at 101.87. The USD Index has refreshed its day’s low at 101.47, portraying a risk appetite theme in the market. NZD/USD,D1 Pivot: 0.6385 Analysis: While the price is above 0.6130, follow the recommendations below: Time...
Source: PaxForex Premium Analytics Portal, Technical Insight The Euro remains supported by ECB officials fighting speculation of a 25 bps hike. S&P Global Manufacturing and Services PMI surveys will likely be a reality check for the strength of the shared currency. EUR/USD,D1 Pivot: 1.0895 Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0895 Take Profit 1: 1.1000 Take Profit 2: 1.1100 Alternative scenario: If the level 1....
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD licks its wounds during a sluggish Monday morning as the pre-Fed blackout joins the Lunar New Year holidays in China. Even so, the bears remain hopeful as the quote extends the previous day’s pullback from the key moving averages. Pivot: 1.3357 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3357 Take Profit 1: 1.3300 Take Profit 2: 1.3225 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD seesaws around 0.6980-85 as it defends the week-start gains amid a sluggish Monday morning in Europe. In doing so, the Aussie pair remains mildly bid amid week-long holidays in China and the US Federal Reserve (Fed) policymakers’ stipulated off from the public appearances ahead of early February’s Federal Open Market Committee (FOMC) meeting. AUD/USD,D1 Pivot: 0.6983 Analysis: Provided that the currency pair is above 0.6860, follow the...
