Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY has been in a prolonged uptrend since early March, generating consecutive multi-year peaks. However, the pair has been consolidating in the last few daily sessions as its rally paused at the eight-year high of 148.39. EUR/JPY,D1 Pivot: 146.70 Analysis: While the price is above 144.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 146.70 Take Profit 1: 149.00 Take Profit 2: 151.00 Alternative scenario:...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England is preparing to further raise interest rates over concerns that inflation could become embedded in the British economy, despite the growing risks of a prolonged recession, its chief economist has warned. GBP/JPY,D1 Pivot: 168.19 Analysis: As long as the price is above 166.50 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 168.19 Take profit 1: 171.00 Take Profit 2: 173.00 Alternative scenario...
Source: PaxForex Premium Analytics Portal, Technical Insight NZDUSD is plotting highs for the week in Asia, extending on the start of the week's rally in a risk-on environment. The high beta currencies have been finding demand due to signs of some easing of market conditions. NZD/USD,D1 Pivot: 0.5914 Analysis: While the price is above 0.5750, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.5914 Take Profit 1: 0.6050 Take Profit 2: 0.6200 Alternative scenario: If the...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD: The Euro is stable with eyes on parity again. EUR/USD,D1 Pivot: 1.0001 Analysis: While the price is above 0.9870, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0001 Take Profit 1: 1.0100 Take Profit 2: 1.0300 Alternative scenario: If the level 0.9870 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.9870 Take Profit 1: 0.9730 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The Canadian Dollar rallied on Friday as strong data and rising oil prices boosted the Loonie. Canadian unemployment beat estimates coming in at 5.2% with estimates at 5.3%, while the employment change numbers came in at 108.3k against estimates of 10k. USD/CAD declined 200-odd pips, wiping out four days of gains by the greenback. US job numbers came in strong following a hawkish Fed on Wednesday but could not arrest the decline in the pair. USD/CAD,D1 Pivot: 1.3527...
