Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair has bounced marginally after building a base around the critical support of 0.6200 in the early Tokyo session. The asset has picked bids after a north-side break of a compact rangebound structure in a 0.6195-0.6210 range as the risk appetite theme has fetched the spotlight. AUD/USD,D1 Pivot: 0.6196 Analysis: Provided that the currency pair is below 0.6520, follow the recommendations below: Time frame: D1 Recommendation: short position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight Data released on Wednesday showed that Britain’s economy unexpectedly contracted in August, but economists still expect the BoE to continue to raise interest rates, in fighting the red-hot inflation, with wide expectations for 0.75% hike and 1% raise also being on the table. GBP/CHF,D1 Pivot: 1.1339 Analysis: While the price is above 1.0900, follow the recommendations below: me frame: D1 Recommendation: long position Entry point: 1.1339 Take Profit 1: 1...
Source: PaxForex Premium Analytics Portal, Technical Insight Last week the RBNZ met and it kept to its hawkish path. The board debated that it may have needed to hike by 75bps (it stuck to 50bps in the end), worried the weak NZD was an inflation risk and expected to keep hiking rates. This strengthened the outlook for the NZD going forward. NZD/CAD,D1 Pivot: 0.7747 Analysis: As long as the price is below 0.7905 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7747 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight Bank of England signals to lenders it is prepared to prolong bond purchases. GBP/CAD,D1 Pivot: 1.5299 Analysis: While the price is above 1.5200, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5299 Take Profit 1: 1.5565 Take Profit 2: 1.5785 Alternative scenario: If level 1.5200 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5200 Take profit...
Source: PaxForex Premium Analytics Portal, Technical Insight European Central Bank (ECB) decided to raise its three key interest rates by 75 basis points (the deposit rate is now 0.75%). Economists at Commerzbank continue to expect it to raise its deposit rate to 3.0% by March next year. EUR/CAD,D1 Pivot: 1.3398 Analysis: As long as the price is above 1.3340 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3398 Take Profit 1: 1.3570 Take Profit 2: 1.3715 Alternative...
