Source: PaxForex Premium Analytics Portal, Technical Insight The AUD/USD pair reversed after breaking the key resistance at 0.7557. Although there is a risk of a deeper corrective pullback, Credit Suisse analysts maintain a medium-term bullish outlook on the pair (rising to 0.7777/85). AUD/USD,D1 Pivot: 0.7448 Analysis: Provided that the currency pair is above 0.7300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7448 Take Profit 1: 0.7550 Take Profit 2: 0.7650...
Source: PaxForex Premium Analytics Portal, Technical Insight Bank of England Chief Economist Hugh Pill said on Thursday that it cannot be taken for granted that monetary policy tools such as QE are also the right ones to address market dysfunction, according to Reuters. GBP/CHF,D1 Pivot: 1.2206 Analysis: While the price is above 1.2250, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2206 Take Profit 1: 1.2530 Take Profit 2: 1.2654 Alternative scenario: If the level 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The Kiwi gets support from the outlook for commodity prices in New Zealand and the RBNZ rate forecast. NZD/CAD,D1 Pivot: 0.8657 Analysis: As long as price is above 0.8620 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8660 Take Profit 1: 0.8720 Take Profit 2: 0.8800 Alternative scenario: If the level of 0.8620 is broken-down, follow the recommendations below: ...
Source: PaxForex Premium Analytics Portal, Technical Insight Nagel, ECB: the Central Bank intends to make a decision in June. GBP/CAD,D1 Pivot: 1.6430 Analysis: While the price is below 1.6720, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6430 Take Profit 1: 1.6300 Take Profit 2: 1.6200 Alternative scenario: If the level 1.6720 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6720 Take profit 1: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The market is increasingly betting that the Bank of Canada (BoC) will raise its key rate by 50 bps at the next meeting. Expectations for a rate hike were probably triggered by the publication of the Bank of Canada's Business Outlook Survey. EUR/CAD,D1 Pivot: 1.3705 Analysis: As long as price is below 1.3900 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3705 Take Profit 1: 1.3650 Take Profit 2: 1.3500...
