Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD will return to 0.69 or even lower in the next few days - Westpac. AUD/USD,D1 Pivot: 0.6972 Analysis: Provided that the currency pair is below 0.7070, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.6972 Take Profit 1: 0.6825 Take Profit 2: 0.6700 Alternative scenario: In case of a break-out of the level 0.7070, follow the recommendations below: Time frame: D1 Recommendation: long position...
Source: PaxForex Premium Analytics Portal, Technical Insight Bank of England: Another increase in August and then a pause - Rabobank. GBP/CHF,D1 Pivot: 1.1920 Analysis: While the price is below 1.2000, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.1920 Take Profit 1: 1.1800 Take Profit 2: 1.1700 Alternative scenario: If the level of 1.2000 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2000 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight A 1% drop in WTI oil prices amid risk aversion and a potential increase in Russian oil production has a negative impact on the resource-linked Canadian dollar. NZD/CAD,D1 Pivot: 0.8214 Analysis: As long as the price is above 0.8080 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8214 Take Profit 1: 0.8250 Take Profit 2: 0.8350 Alternative scenario: If the level of 0.8080 is broken-down, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England is likely to raise its key rate by another 25bp to 1.25%, although an unexpected 50bp increase cannot be ruled out if the central bank prioritizes controlling inflation. GBP/CAD,D1 Pivot: 1.5668 Analysis: While the price is below 1.5790, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5668 Take Profit 1: 1.5500 Take Profit 2: 1.5350 Alternative scenario: If the level 1.5790 is broken-out,...
Source: PaxForex Premium Analytics Portal, Technical Insight The fall of the CAD looks excessive considering the strength of the domestic economy, the Bank of Canada's own hawkish intentions and the yield premium against the USD for the CAD, but it will not help the CAD against the overall growth of the USD at the moment. EUR/CAD,D1 Pivot: 1.3472 Analysis: As long as the price is above 1.3440 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3456 Take Profit 1: 1.3600...
