Source: PaxForex Premium Analytics Portal, Technical Insight On Tuesday, the GBP/JPY retraces after hitting a two-week high around 168.30, amid upbeat sentiment, as shown by Wall Street, registering gains between 1.18% and 1.36%. GBP/JPY,D1 Pivot: 167.99 Analysis: As long as the price is below 166.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 167.99 Take profit 1: 171.00 Take Profit 2: 173.00 Alternative scenario: If the level of 166.50 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The NZD/USD pair comes under some selling pressure on the first day of a new week and moves further away from a nearly three-month high - levels just above the 0.6200 mark touched on Friday. The pair remains depressed through the early part of the European session and is currently flirting with the daily low, around the 0.6120 region. NZD/USD,D1 Pivot: 0.6117 Analysis: While the price is above 0.5960, follow the recommendations below: Time frame: D1...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD adds to the ongoing retracement and loses ground for the third session in a row on Monday. A deeper pullback could breach 1.0200 and thus pave the way for extra losses to the 100-day SMA around 1.0020. South of this level, a potential visit to the parity zone could return to the radar. EUR/USD,D1 Pivot: 1.0251 Analysis: While the price is above 1.0100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0251...
Source: PaxForex Premium Analytics Portal, Fundamental Insight The New Zealand Trade Balance for October came in at -NZ$2,129M monthly and at -NZ$12,880M annualized. Forex traders can compare this to the New Zealand Trade Balance for September, reported at -NZ$1,696M monthly and -NZ$12,030M annualized. Exports for October came in at NZ$6.14B, and Imports at NZ$8.27B. Forex traders can compare this to Exports for September, reported at NZ$5.94B, and Imports at NZ$7.63B. Canadian Retail Sales for September are predicted to contract...
Source: PaxForex Premium Analytics Portal, Technical Insight The USDCAD pair builds on last week's bounce from the 100-day SMA support and gains some follow-through traction on Monday. The momentum lifts spot prices to a one-and-half-week top, around the 1.3425 area, during the early European session and is sponsored by a combination of factors. USD/CAD,D1 Pivot: 1.3382 Analysis: While the price is below 1.3500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3382 Take...
