Source: PaxForex Premium Analytics Portal, Technical Insight GBP/JPY fell off a cliff in Asia yesterday and continued lower overnight following the Bank of Japan shocked markets on Tuesday with a surprising tweak to its bond yield control. GBP/JPY,D1 Pivot: 160.58 Analysis: As long as the price is below 163.00 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 160.58 Take profit 1: 158.50 Take Profit 2: 155.00 Alternative scenario: If the level of 163.00 is broken-out...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD has been chipping away at the downside in Asia, sliding to a fresh session low at the time of writing, down 0.35% on the day so far after dropping from a high of 0.6365. The US Dollar has been struggling to break higher which had been giving the commodity complex some room to breathe but the tables are turning. NZD/USD,D1 Pivot: 0.6314 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD remains indecisive around 1.0600, after the latest whipsaw, as it retreats from an intraday high during early Tuesday morning in Europe. The major currency pair’s latest moves could be linked to the US Dollar’s zigzag amid mixed concerns and a light calendar. EUR/USD,D1 Pivot: 1.0542 Analysis: While the price is above 1.0300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0583 Take Profit 1: 1...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD remains depressed around 1.3680 as it struggles to defend the two-day uptrend during Monday’s Asian session. In doing so, the Loonie pair retreats from a seven-day-old horizontal resistance area inside a rising wedge bearish formation established since early November. Pivot: 1.3670 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3670 Take Profit 1: 1.3750...
Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD picks up bids to refresh intraday high near 0.6720 during early Monday. In doing so, the Aussie pair prints the first daily gains in three while bouncing off the lowest levels in eight days. AUD/USD,D1 Pivot: 0.6707 Analysis: Provided that the currency pair is above 0.6600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6707 Take Profit 1: 0.6900 Take Profit 2: 0.7000 Alternative scenario: In...
