Source: PaxForex Premium Analytics Portal, Technical Insight The GBP/JPY pair has sensed selling pressure after multiple failed attempts of surpassing the critical resistance of 161.00 from the past two trading sessions. The cross is likely to display volatile moves amid chatters over the review of decade-long easy policy under the new Bank of Japan (BoJ) leadership ahead. GBP/JPY,D1 Pivot: 160.95 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 The NZD/USD pair has corrected to near 0.6370 after sensing selling pressure near the round-level resistance of 0.6400 in the Asian session. The Kiwi asset is likely to remain on the tenterhooks as investors are awaiting the speech from Federal Reserve (Fed) chair Jerome Powell for fresh impetus. NZD/USD,D1 Pivot: 0.6365 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6365...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD dribbles between 1.0720 and 1.0745 so far during early Tuesday as traders await more clues to extend the latest north-run. In doing so, the major currency pair seesaws around the highest levels since June 2022 as bulls run out of steam as the US Dollar rebounds on doubts over the previous risk-on mood, as well as due to a rebound in the US Treasury yields. EUR/USD,D1 Pivot: 1.0729 Analysis: While the price is above 1.0600, follow the recommendations below...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD bears occupy the driver’s seat as the Loonie pair slides to the lowest levels in a month heading into Monday’s European session. In doing so, the quote takes clues from the market’s upbeat sentiment, as well as firmer prices of Canada’s main export item WTI crude oil. Pivot: 1.3402 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3402 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair is displaying a sideways auction around the immediate hurdle of 0.6930 in the Asian session. The Aussie asset is expected to continue its upside journey amid sheer volatility in the US Dollar Index (DXY). AUD/USD,D1 Pivot: 0.6936 Analysis: Provided that the currency pair is above 0.6800, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6936 Take Profit 1: 0.7000 Take Profit 2: 0.7100 Alternative...
