Source: PaxForex Premium Analytics Portal, Technical Insight Analysts at Commerzbank believe that the Finance Ministry and the Bank of Japan will now try "verbal" interventions and express growing concern about yen weakness, hoping that the market will stop the yen collapse for fear of interventions. EUR/JPY,D1 Pivot: 139.11 Analysis: While the price is above 133.35, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 139.11 Take Profit 1: 139.70 Take Profit 2: 141.00...
Source: PaxForex Premium Analytics Portal, Technical Insight Kuroda is in a catch-22 situation. Should he raise interest rates despite persistent negative core inflation? That, too, would be futile. The preferred instrument would be one that specifically targets yen exchange rates. And the first tool to think about would be intervention in the foreign exchange market. GBP/JPY,D1 Pivot: 167.60 Analysis: As long as price is above 158.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight New Zealand Finance Minister Grant Robertson said at a press conference that the government should watch its spending and hinted at introducing new fiscal rules for the budget next month. NZD/USD,D1 Pivot: 0.6737 Analysis: While the price is above 0.6730, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6737 Take Profit 1: 0.6875 Take Profit 2: 0.6990 Alternative scenario: If the level 0.6730 is broken-down,...
Source: PaxForex Premium Analytics Portal, Technical Insight UOB Group currency strategists write that EUR/USD could deepen the drawdown in the coming weeks. EUR/USD,D1 Pivot: 1.0784 Analysis: While the price is below 1.1110, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.0784 Take Profit 1: 1.0700 Take Profit 2: 1.0600 Alternative scenario: If the level 1.1110 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight Fed, Williams: as the Fed tightens, core inflation will soon peak and decline later this year. USD/CAD,D1 Pivot: 1.2636 Analysis: While the price is above 1.2555, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2636 Take Profit 1: 1.2675 Take Profit 2: 1.2785 Alternative scenario: If the level 1.2555 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position...
