Source: PaxForex Premium Analytics Portal, Technical Insight NFP employment growth of 390k marked another decent result in the US labor market in May. Will this data change the policy outlook? Probably not, so TD Securities economists don't expect it to be a game changer in currency markets. AUD/USD,D1 Pivot: 0.7204 Analysis: Provided that the currency pair is above 0.7000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7204 Take Profit 1: 0.7280 Take Profit 2: 0.7445...
Source: PaxForex Premium Analytics Portal, Technical Insight According to Westpac economists, surprisingly favorable business reports may support the pound, but it remains vulnerable as it consolidates. GBP/CHF,D1 Pivot: 1.2103 Analysis: While the price is below 1.2210, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.2044 Take Profit 1: 1.1980 Take Profit 2: 1.1900 Alternative scenario: If the level 1.2210 is broken-out, follow the recommendations below: Time frame...
Source: PaxForex Premium Analytics Portal, Technical Insight Hawksbee, RBNZ: we need to tighten, moving beyond the neutral 2% level. NZD/CAD,D1 Pivot: 0.8236 Analysis: As long as price is above 0.8180 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8236 Take Profit 1: 0.8400 Take Profit 2: 0.8500 Alternative scenario: If the level of 0.8180 is broken-down, follow the recommendations below: Time frame: D1 Recommendation:...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada (BoC) is set to raise interest rates for the third consecutive meeting. ING economists are expecting 50bp from the BoC today, but a 75bp increase is possible. GBP/CAD,D1 Pivot: 1.5827 Analysis: While the price is below 1.5950, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5827 Take Profit 1: 1.5700 Take Profit 2: 1.5600 Alternative scenario: If the level 1.5950 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The expectation that the Bank of Canada (BoC) will raise its key rate by another 50 bps has been largely built into prices. Commerzbank economists expect the Loonie to be unimpressed by the central bank's decision. EUR/CAD,D1 Pivot: 1.3709 Analysis: As long as price is above 1.3440 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3511 Take Profit 1: 1.3600 Take Profit 2: 1.3770 Alternative scenario: If the...
