Source: PaxForex Premium Analytics Portal, Technical Insight GBP/JPY braces for the biggest daily gains in two weeks after the Bank of Japan (BoJ) disappointed the Yen buyers during early Wednesday, up 1.80% intraday near 160.40 by the press time. Adding strength to the cross-currently pair’s upside momentum could be the hopes of upbeat inflation data from the UK. GBP/JPY,D1 Pivot: 161.01 Analysis: As long as the price is above 158.50 follow the recommendations below: Time frame: D1 Recommendation: long ...
Source: PaxForex Premium Analytics Portal, Technical Insight In the opinion of Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group, extra gains in NZD/USD appear on the cards in the near term. NZD/USD,D1 Pivot: 0.6385 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6365 Take Profit 1: 0.6565 Take Profit 2: 0.6800 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below:...
Source: PaxForex Premium Analytics Portal, Technical Insight The Euro had a great second week of the year. Economists at Société Générale expect EUR/USD to test the 1.10 level on disappointing US data this week. EUR/USD,D1 Pivot: 1.0813 Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0813 Take Profit 1: 1.0900 Take Profit 2: 1.1100 Alternative scenario: If the level 1.0700 is broken-down, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CAD pair struggles to capitalize on Friday's bounce from the 1.3320 area, or its lowest level since November 25 and meets with a fresh supply on the first day of a new week. The pair remains on the defensive through the Asian session and is currently placed near the daily low, around mid-1.3300s. Pivot: 1.3380 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair kicks off the new week on a positive note and climbs to its highest level since mid-August during the Asian session. The pair, however, trim a part of its intraday gains and retreat below the 0.7000 psychological mark in the last hour. AUD/USD,D1 Pivot: 0.6971 Analysis: Provided that the currency pair is above 0.6860, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6971 Take Profit 1: 0.7000 Take...
