Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD: A test of 0.6800 is on the horizon – UOB.. AUD/USD,D1 Pivot: 0.7002 Analysis: Provided that the currency pair is below 0.7000, follow the recommendations Time frame: D1 Recommendation: short position Entry point: 0.6935 Take Profit 1: 0.6825 Take Profit 2: 0.6700 Alternative scenario: In case of break-out of the level 0.7000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7000 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England's updated macro forecast now reflects a negative GDP trajectory in 2023, with the bank now assuming a -0.25% fall, rather than the 1.25% fall previously. A key factor in the worsening growth trajectory is the most aggressive correction in real household disposable income in recorded history. GBP/CHF,D1 Pivot: 1.2201 Analysis: While the price is below 1.2275, follow the recommendations below: Time frame: D1 Recommendation: short...
Source: PaxForex Premium Analytics Portal, Technical Insight A review of the RBNZ inflation expectations for the second quarter reveals a slowdown in some indicators. Notably, the 2-year forward indicator was unchanged, as was the 10-year forward indicator, suggesting that expectations may be at or near their peak. NZD/CAD,D1 Pivot: 0.8235 Analysis: As long as price is below 0.8350 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8128 Take Profit 1: 0.8050 Take Profit 2: 0...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of England must raise rates to 2.5% next year to curb inflation - FT. GBP/CAD,D1 Pivot: 1.5986 Analysis: While the price is below 1.6320, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.5990 Take Profit 1: 1.5800 Take Profit 2: 1.5700 Alternative scenario: If the level 1.6320 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6320 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight Commodity currencies remain vulnerable to further correction in the short term - MUFG. EUR/CAD,D1 Pivot: 1.3672 Analysis: As long as price is below 1.3750 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3672 Take Profit 1: 1.3400 Take Profit 2: 1.3200 Alternative scenario: If the level of 1.3750 is broken-out, follow the recommendations below: ...
