Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY remains well bid and trades in multi-session peaks above the 143.00 yardstick on Tuesday. The continuation of the rebound from last week’s lows remains well in place for the time being. EUR/JPY,D1 Pivot: 143.70 Analysis: While the price is above 141.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 143.70 Take Profit 1: 145.65 Take Profit 2: 147.00 Alternative scenario: If the level 141.00 is...
Source: PaxForex Premium Analytics Portal, Technical Insight Even though the cross-currency pair printed six days of gains, the GBP/JPY needs to clear September’s high at 167.94 to cement its upward bias. GBP/JPY traders should be aware that the Relative Strength Index (RSI) shifted from aiming upwards to flat, suggesting buyers’ exhaustion. Therefore, as buyers get a respite, the GBP/JPY might correct lower to challenge the YTD high at 168.73. GBP/JPY,D1 Pivot: 164.95 Analysis: As long as the price is above 160....
Source: PaxForex Premium Analytics Portal, Technical Insight NZD/USD now points to some consolidation – UOB. NZD/USD,D1 Pivot: 0.5714 Analysis: While the price is below 0.5850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.5714 Take Profit 1: 0.5600 Take Profit 2: 0.5500 Alternative scenario: If the level 0.5850 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.5850 Take Profit 1: 0.6000 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/USD keeps its consolidation well in place – UOB. EUR/USD,D1 Pivot: 1.0018 Analysis: While the price is below 0.9850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.9825 Take Profit 1: 0.9500 Take Profit 2: 0.9400 Alternative scenario: If the level 0.9850 is broken-out, follow the recommendations below Time frame: D1 Recommendation: long position Entry point: 0.9850 Take Profit 1: 1.0000 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CAD pair kicks off the new week on a weaker note and reverses a part of Friday's positive move to its highest level since May 2020. Crude oil prices rise nearly 3% amid reports that OPEC+ will consider an output cut of more than 1 million bpd - the biggest since the COVID-19 pandemic - at its meeting on October 5 to support the market. USD/CAD,D1 Pivot: 1.3768 Analysis: While the price is above 1.3600, follow the recommendations below: Time frame: D1...
