Source: PaxForex Premium Analytics Portal, Technical Insight The Times’ news suggesting UK Prime Minister’s readiness for halving financial support on energy bills for businesses, amid concerns about the cost, seemed to have exerted downside pressure on GBP. GBP/CHF,D1 Pivot: 1.1127 Analysis: While the price is above 1.1070, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1127 Take Profit 1: 1.1350 Take Profit 2: 1.1500 Alternative scenario: If the level of...
Source: PaxForex Premium Analytics Portal, Technical Insight The next Bank of Canada interest rate announcement is Jan. 25 and derivatives markets are pricing in a better-than-even chance the bank will hike another 25 basis points. That would take the prime rate up to 6.7 percent, its highest level in more than two decades. NZD/CAD,D1 Pivot: 0.8571 Analysis: As long as the price is above 0.8550 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8571 Take Profit 1: 0.8730 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight While the BoE is expecting a “gradual” CPI decline, head of market analysis at Brewin Dolphin Janet Mui said inflation was likely to slow “sharply” in 2023. GBP/CAD,D1 Pivot: 1.6352 Analysis: While the price is below 1.6500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6352 Take Profit 1: 1.6085 Take Profit 2: 1.5820 Alternative scenario: If level 1.6500 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight After a year in which the Bank of Canada raised its key overnight lending rate seven times in an attempt to slow down soaring inflation, most experts believe the Bank is set to take a breather in 2023. EUR/CAD,D1 Pivot: 1.4438 Analysis: As long as the price is above 1.4130 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4438 Take Profit 1: 1.4500 Take Profit 2: 1.4600 Alternative scenario: If the level of 1....
Source: PaxForex Premium Analytics Portal, Technical Insight Japan’s Ex-MoF Nakao: Widening YCC band to make policy transition smoother. EUR/JPY,D1 Pivot: 142.60 Analysis: While the price is below 140.80, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 142.60 Take Profit 1: 143.80 Take Profit 2: 145.60 Alternative scenario: If the level 140.80 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 140.80...
