Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair is displaying topsy-turvy moves in a narrow range of 0.6774-0.6800 in the Asian session. After a gap down open, the aussie bulls attempted a break above the critical hurdle of 0.6800, however, the risk-off market tone strengthened the greenback bulls. AUD/USD,D1 Pivot: 0.6775 Analysis: Provided that the currency pair is below 0.6850, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6775 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight A sustained bearish bias is reflected by short-term momentum oscillators. RSI, however, posts a reading below 30 in the oversold area, suggesting a short-term rebound due to the exhaustion of sellers. While, momentum is falling in the selling area, and MACD bars are getting taller below the signal line. GBP/CHF,D1 Pivot: 1.1324 Analysis: While the price is below 1.1535, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point...
Source: PaxForex Premium Analytics Portal, Technical Insight RBNZ’s Orr announced two more rate hikes ahead this year to tame the inflationary pressures at Jackson Hole Economic Symposium. NZD/CAD,D1 Pivot: 0.7987 Analysis: As long as the price is below 0.8070 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.7987 Take Profit 1: 0.7950 Take Profit 2: 0.7900 Alternative scenario: If the level of 0.8070 is broken-out, follow the recommendations below: ...
Source: PaxForex Premium Analytics Portal, Technical Insight Analysts expect the Bank of Canada rate hike of 75 basis points next week. GBP/CAD,D1 Pivot: 1.5253 Analysis: While the price is below 1.5500, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5253 Take Profit 1: 1.5200 Take Profit 2: 1.5100 Alternative scenario: If level 1.5500 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5500 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight Canada: real GDP increased by 3.3% year-on-year in Q2 vs. the forecast of 4.5%. EUR/CAD,D1 Pivot: 1.3201 Analysis: As long as the price is above 1.3000 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3201 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 Entry point...
