Source: PaxForex Premium Analytics Portal, Technical Insight “The Bank of England will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50%, despite the economy falling into recession, as it battles inflation running at more than five times its target,” stated the latest survey from Reuters. GBP/CHF,D1 Pivot: 1.1463 Analysis: While the price is above 1.1200, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1443 Take Profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight Deputy Governor Sharon Kozicki said in a speech in Montreal that the Bank of Canada would study the latest economic data to gauge whether or not to raise interest rates, adding it would move forcefully if necessary. NZD/CAD,D1 Pivot: 0.8686 Analysis: As long as the price is above 0.8380 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8686 Take Profit 1: 0.8800 Take Profit 2: 0.8900 Alternative scenario: If the...
Source: PaxForex Premium Analytics Portal, Technical Insight Britain saw the most widespread house price falls since early in the COVID-19 pandemic last month, as demand from buyers and sales activity slowed in the face of higher borrowing costs. GBP/CAD,D1 Pivot: 1.6665 Analysis: While the price is above 1.6360, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6665 Take Profit 1: 1.6800 Take Profit 2: 1.7000 Alternative scenario: If level 1.6360 is broken-down, follow...
Source: PaxForex Premium Analytics Portal, Technical Insight On Wednesday, the Bank of Canada (BOC) announced a 0.50% rate hike and weighed on the USD/CAD prices. However, the tone of the Rate Statement appeared dovish and challenged the Canadian Dollar (CAD) buyers. EUR/CAD,D1 Pivot: 1.4358 Analysis: As long as the price is above 1.4130 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4358 Take Profit 1: 1.4400 Take Profit 2: 1.4600 Alternative scenario: If the level of...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/JPY pair is displaying a lackluster performance in early Asia as investors await the speech from European Central Bank (ECB) President Christine Lagarde for fresh impetus. EUR/JPY,D1 Pivot: 143.69 Analysis: While the price is below 145.50, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 143.69 Take Profit 1: 142.50 Take Profit 2: 141.00 Alternative scenario: If the level 145.50 is broken-out, follow the...
