Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD consolidates the biggest daily gains in a month as it refreshes intraday low around 0.6825-30 during Monday’s Asian session. In doing so, the Aussie pair takes a U-turn from the downward sloping resistance line from August 15 as well as the 100-SMA. AUD/USD,D1 Pivot: 0.6845 Analysis: Provided that the currency pair is below 0.6850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6845 Take Profit 1:...
Source: PaxForex Premium Analytics Portal, Technical Insight Sterling was modestly lower against the other major currencies. GBP/CHF,D1 Pivot: 1.1159 Analysis: While the price is below 1.1500, follow the recommendations below: me frame: D1 Recommendation: short position Entry point: 1.1159 Take Profit 1: 1.1100 Take Profit 2: 1.1000 Alternative scenario: If the level of 1.1500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.1500 Take profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight As was widely expected, the Canadian central bank hiked its benchmark rates by 75 bps and also maintained a hawkish bias, indicating the need to raise interest rates further. This, in turn, provided a goodish lift to the domestic currency. NZD/CAD,D1 Pivot: 0.7926 Analysis: As long as the price is below 0.8070 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7926 Take Profit 1: 0.7900 Take Profit 2: 0.7850...
Source: PaxForex Premium Analytics Portal, Technical Insight BoC offered the first hint it is at least starting to contemplate where the monetary tightening cycle might end, saying it will be assessing how much higher interest rates need to go to return inflation to target. GBP/CAD,D1 Pivot: 1.5125 Analysis: While the price is below 1.5500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5125 Take Profit 1: 1.5000 Take Profit 2: 1.4900 Alternative scenario: If...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada (BoC) delivered another large rate hike, increasing its policy rate by 75 basis points to 3.25%. In addition, the BoC's accompanying comments were mildly hawkish on balance. EUR/CAD,D1 Pivot: 1.3129 Analysis: As long as the price is above 1.3000 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3129 Take Profit 1: 1.3275 Take Profit 2: 1.3390 Alternative scenario: If the level of 1.3000...
