Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair continued to fall amid mixed economic data from the U.S. released on Thursday. Nevertheless, the dovish stance of the RBA favors the dollar. AUD/USD,D1 Pivot: 0.7354 Analysis: Provided that the currency pair is above 0.7300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7354 Take Profit 1: 0.7440 Take Profit 2: 0.7550 Alternative scenario: In case of break-down of the level 0.7300,...
Source: PaxForex Premium Analytics Portal, Technical Insight The pound is still at risk of falling amid the risk of more divergence between the Bank of England and the Fed policies. GBP/CHF,D1 Pivot: 1.2321 Analysis: While the price is above 1.2100, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2321 Take Profit 1: 1.2420 Take Profit 2: 1.2530 Alternative scenario: If the level 1.2100 is broken-down, follow the recommendations below: Time frame: D1 Recommendation:...
Source: PaxForex Premium Analytics Portal, Technical Insight Despite the RBNZ raising interest rates by 50 bps on Wednesday to strengthen its position as the most hawkish central bank in the B10, the kiwi can't get long-term momentum. NZD/CAD,D1 Pivot: 0.8529 Analysis: As long as price is above 0.8620 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 0.8529 Take Profit 1: 0.8480 Take Profit 2: 0.8430 Alternative scenario: If the level of 0.8620 is broken-out, follow...
Source: PaxForex Premium Analytics Portal, Technical Insight In a press conference following the Bank of Canada's monetary policy meeting, Governor Tiff Macklem said that the central bank is prepared to act as decisively as necessary to fight inflation and took an important step in that fight on Wednesday. GBP/CAD,D1 Pivot: 1.6489 Analysis: While the price is below 1.6720, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6489 Take Profit 1: 1.6300 Take Profit 2: 1.6200...
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada announced Wednesday its decision to raise the benchmark interest rate by 50 bps to 1.00% from 0.50%, as analysts expected. EUR/CAD,D1 Pivot: 1.3697 Analysis: As long as price is below 1.3900 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3697 Take Profit 1: 1.3585 Take Profit 2: 1.3500 Alternative scenario: If the level of 1.3900 is broken-out, follow the recommendations below: Time...
