Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD pulls back from its intraday high towards 0.6700, around 0.6720 by the press time, as it reacts to the People’s Bank of China’s (PBOC) recent rate cut during Monday’s Asian session. AUD/USD,D1 Pivot: 0.6708 Analysis: Provided that the currency pair is below 0.6850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6708 Take Profit 1: 0.6670 Take Profit 2: 0.6600 Alternative scenario:...
Source: PaxForex Premium Analytics Portal, Technical Insight Switzerland’s central bank chief insisted that any move -- likely also to be an increase in borrowing costs -- will be determined with the most current data that will then be available. GBP/CHF,D1 Pivot: 1.1022 Analysis: While the price is below 1.1300, follow the recommendations below: me frame: D1 Recommendation: short position Entry point: 1.1022 Take Profit 1: 1.0900 Take Profit 2: 1.0700 Alternative scenario: If the level of 1.1300 is broken-...
Source: PaxForex Premium Analytics Portal, Technical Insight The New Zealand economy grew faster than investors were expecting in the second quarter of the year, raising bets the Reserve Bank of New Zealand (RBNZ) has scope to raise interest rates further. New Zealand GDP grew 1.7% quarter-on-quarter in the second quarter of 2022 said Stats NZ, which was well above the 1.0% markets were expecting. NZD/CAD,D1 Pivot: 0.7879 Analysis: As long as the price is below 0.8030 follow the recommendations below: Time frame: D1...
Source: PaxForex Premium Analytics Portal, Technical Insight The latest report card on U.K. economic activity reveals that growth is still lacking in momentum, while labor market trends have also started to soften. With wage gains still not keeping pace with inflation, we still expect a mild U.K. recession as declining real household incomes weigh on consumer spending. GBP/CAD,D1 Pivot: 1.5193 Analysis: While the price is below 1.5350, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight Situation in Europe is quite uncertain, the worst may yet be to come – Commerzbank. EUR/CAD,D1 Pivot: 1.3137 Analysis: As long as the price is above 1.3000 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3137 Take Profit 1: 1.3275 Take Profit 2: 1.3390 Alternative scenario: If the level of 1.3000 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position...
