Source: PaxForex Premium Analytics Portal, Technical Insight The British Pound (GBP) continues to draw support from the Bank of England's (BoE) decision on Thursday to keep interest rates unchanged and run down its stock of government bonds by another £100 billion over the coming 12 months. GBP/CHF,D1 Pivot: 1.1252 Analysis: While the price is below 1.1100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1252 Take Profit 1: 1.1400 Take Profit 2: 1.1500...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD concerns as Q2 GDP confirms contraction. NZD/CAD,D1 Pivot: 0.8456 Analysis: As long as the price is above 0.8300 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8456 Take Profit 1: 0.8500 Take Profit 2: 0.8600 Alternative scenario: If the level of 0.8300 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8300 Take profit 1: 0.8200 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight Expectations that the Bank of England's (BoE) rate-cutting cycle is more likely to be slower than in the US continue to underpin the British Pound (GBP) and help limit losses for the currency pair. Pivot: 1.7949 Analysis: While the price is above 1.7700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7949 Take Profit 1: 1.8000 Take Profit 2: 1.8100 Alternative scenario: If level 1.7700 is broken-out,...
Source: PaxForex Premium Analytics Portal, Technical Insight CB’s Villeroy sees the policy-easing cycle continuing further. EUR/CAD,D1 Pivot: 1.5112 Analysis: As long as the price is above 1.4900 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5112 Take Profit 1: 1.5200 Take Profit 2: 1.5300 Alternative scenario: If the level of 1.4900 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY attracts some sellers below 157.50 ahead of Eurozone inflation data. EUR/JPY,D1 Pivot: 157.86 Analysis: While the price is below 160.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 157.86 Take Profit 1: 155.00 Take Profit 2: 153.00 Alternative scenario: If the level 160.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.00...
