Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD dropped on Friday and lost some of the strong gains of the previous day to 0.7000, which corresponds to the weekly high. The pair remains under pressure during the first half of the European session, although it manages to find support around 0.6950 and regain some pips from the daily low. AUD/USD,D1 Pivot: 0.6958 Analysis: Provided that the currency pair is above 0.6850, follow the recommendations below: Time frame: D1 Recommendation: long ...
Source: PaxForex Premium Analytics Portal, Technical Insight The rebound in risk interest and rising UK yields are not providing support for the pound - MUFG. GBP/CHF,D1 Pivot: 1.1401 Analysis: While the price is below 1.1750, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1378 Take Profit 1: 1.1300 Take Profit 2: 1.1200 Alternative scenario: If the level of 1.1750 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight Adrian Orr, governor of the Reserve Bank of New Zealand, said he believes the regulator will hold at least a couple more interest rate hikes. This was reported by Bloomberg TV's coverage of Jackson Hole. NZD/CAD,D1 Pivot: 0.8025 Analysis: As long as the price is above 0.8000 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8025 Take Profit 1: 0.8180 Take Profit 2: 0.8250 Alternative scenario: If the level...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England (BoE) is still torn between a weak economic growth forecast and near-record inflation. TD Securities economists have revised their forecast for the bank rate and now expect it to rise sharply in the near term. This will be followed by a decline once the link between wages and prices is cut. GBP/CAD,D1 Pivot: 1.5289 Analysis: While the price is below 1.5680, follow the recommendations below: Time frame: D1 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight The WTI might revisit the $95 area in the near term, which might provide some support for the CAD. EUR/CAD,D1 Pivot: 1.2919 Analysis: As long as the price is below 1.3260 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2919 Take Profit 1: 1.2850 Take Profit 2: 1.2750 Alternative scenario: If the level of 1.3260 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position...
