Source: PaxForex Premium Analytics Portal, Technical Insight GBP/JPY picks up bids to print mild gains around 166.65 heading into Wednesday’s London open. In doing so, the cross-currency pair bounces off the 21-SMA to reverse the previous day’s losses from the one-week high. GBP/JPY,D1 Pivot: 166.76 Analysis: As long as the price is below 167.00 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 166.76 Take profit 1: 163.00 Take Profit 2: 159.80 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD faces barricades around 0.6350 as risk-on impulse retreats, USD Index recovers. NZD/USD,D1 Pivot: 0.6307 Analysis: While the price is above 0.6130, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6307 Take Profit 1: 0.6565 Take Profit 2: 0.6800 Alternative scenario: If the level 0.6130 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0....
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD steadies near 1.0500 after reversing from a multi-day high, Fed vs. ECB concerns eyed. EUR/USD,D1 Pivot: 1.0357 Analysis: While the price is above 1.0300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0479 Take Profit 1: 1.0600 Take Profit 2: 1.0800 Alternative scenario: If the level 1.0300 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD has witnessed a sheer downside after surrendering the critical support of 1.3442 in the Asian session. The loonie asset has dropped firmly below the round-level support of 1.3400 in the Tokyo session as a significant improvement in risk appetite has impacted the US Dollar. Pivot: 1.3422 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3422 Take Profit 1: 1.3300...
Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair has extended its recovery from 0.6770 to above 0.6850 in the Asian session. The Aussie asset has witnessed stellar buying interest from the market participants as the Reserve Bank of Australia (RBA) is all set to tighten its policy further to bring price stability. AUD/USD,D1 Pivot: 0.6809 Analysis: Provided that the currency pair is above 0.6600, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0....
