Source: PaxForex Premium Analytics Portal, Technical Insight The sharp drop in AUD to a low of 0.6390 came as a surprise. The decline appears to be overdone and AUD is unlikely to weaken further. For today, AUD is more likely to trade between 0.6380 and 0.6480. AUD/USD,D1 Pivot: 0.6430 Analysis: Provided that the currency pair is below 0.6700, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6430 Take Profit 1: 0.6300 Take Profit 2: 0.6200 Alternative scenario: In...
Source: PaxForex Premium Analytics Portal, Technical Insight The British pound sterling had one of its best trading days in a month. GBP/CHF,D1 Pivot: 1.0830 Analysis: While the price is below 1.1015, follow the recommendations below: me frame: D1 Recommendation: short position Entry point: 1.0830 Take Profit 1: 1.0550 Take Profit 2: 1.0165 Alternative scenario: If the level of 1.1015 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1015 Take profit...
Source: PaxForex Premium Analytics Portal, Technical Insight A modest downtick in crude oil prices undermines the commodity-linked loonie and offers it some support. NZD/CAD,D1 Pivot: 0.7873 Analysis: As long as the price is below 0.7905 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7811 Take Profit 1: 0.7720 Take Profit 2: 0.7665 Alternative scenario: If the level of 0.7905 is broken-out, follow the recommendations below: Time frame: D1...
Source: PaxForex Premium Analytics Portal, Technical Insight The beleaguered pound was in retreat again after the UK government was slapped by stinging criticism from the International Monetary Fund over its handling of economic policy. GBP/CAD,D1 Pivot: 1.4798 Analysis: While the price is below 1.5000, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4798 Take Profit 1: 1.4500 Take Profit 2: 1.4300 Alternative scenario: If level 1.5000 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight ECB hawkishness may be insufficient to support EUR in a stagflationary environment – Morgan Stanley. EUR/CAD,D1 Pivot: 1.3242 Analysis: As long as the price is above 1.3000 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3242 Take Profit 1: 1.3390 Take Profit 2: 1.3525 Alternative scenario: If the level of 1.3000 is broken-down, follow the recommendations below: Time frame: D1 Recommendation...
