Source: PaxForex Premium Analytics Portal, Technical Insight The industrial sector faded its recovery momentum in November, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Friday. GBP/CHF,D1 Pivot: 1.1342 Analysis: While the price is above 1.1100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1342 Take Profit 1: 1.1500 Take Profit 2: 1.1600 Alternative scenario: If the level of 1.1100 is broken-...
Source: PaxForex Premium Analytics Portal, Technical Insight Heading into 2023, the outlook for the Canadian consumer in particular suggests a further downshift in growth may be forthcoming. Amid rapid inflation, real household disposable incomes are falling, which should restrain consumer spending. Rising interest rates should also weigh on the housing sector and broader consumer activity. The outlook for business activity and investment has also become more uncertain. Altogether, we forecast a mild recession in Canada in the...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England has sharply criticised UK lenders for failing to tackle the risk management blind spots exposed by the collapse of a multibillion-dollar hedge fund, the energy price shock and other crises that have rocked financial markets in recent years. GBP/CAD,D1 Pivot: 1.6245 Analysis: While the price is below 1.6500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6317 Take Profit 1: 1.6088 Take Profit...
Source: PaxForex Premium Analytics Portal, Technical Insight With inflation still elevated, experts still expect the Bank of Canada of raise its policy rate by 25 basis points to 4.50% at its late January meeting. However, as long as core inflation begins to slow perceptibly in the months ahead, we all should anticipate that this rate hike will be the last of the current tightening cycle. EUR/CAD,D1 Pivot: 1.4457 Analysis: As long as the price is above 1.4130 follow the recommendations below: Time frame: D1...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/JPY pair is struggling to extend its upside journey above the immediate resistance of 142.00 in the early Asian session. The cross demonstrates a sideways profile but is likely to remain in the bullish trajectory amid an upbeat market mood. EUR/JPY,D1 Pivot: 142.17 Analysis: While the price is below 140.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 142.17 Take Profit 1: 143.80 Take Profit 2: 145.60...
