Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD: poised to test the October 2021 high at 0.7556 - OCBC. AUD/USD,D1 Pivot: 0.7513 Analysis: Provided that the currency pair is above 0.7300, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.7513 Take Profit 1: 0.7550 Take Profit 2: 0.7650 Alternative scenario: In case of break-down of the level 0.7300, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point...
Source: PaxForex Premium Analytics Portal, Technical Insight A cautious Bank of England should weigh the yield differentials on Britain's 2-year bonds, which are putting downward pressure on the GBP. GBP/CHF,D1 Pivot: 1.2249 Analysis: While the price is above 1.2250, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.2249 Take Profit 1: 1.2530 Take Profit 2: 1.2654 Alternative scenario: If the level 1.2250 is broken-down, follow the recommendations below: Time...
Source: PaxForex Premium Analytics Portal, Technical Insight The market expects a 50bp increase rather than a 25bp increase at the Bank of Canada (BoC) meeting on April 13, in addition to the already expected 175bp increase in the discount rate by the end of the year. Since Canada is a highly indebted economy, there is an opportunity for a dovish reversal either in April or later this year, which would create an asymmetrical downturn for the CAD. NZD/CAD,D1 Pivot: 0.8741 Analysis: As long as price is above 0.8640 follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight Morgan Stanley analysts recommend staying short on the British pound as markets are pricing in too much tightening of Bank of England (BOE) policy this year amid risks to economic growth and rising inflation. GBP/CAD,D1 Pivot: 1.6690 Analysis: While the price is below 1.6950, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6585 Take Profit 1: 1.6450 Take Profit 2: 1.6350 Alternative scenario: If the level 1....
Source: PaxForex Premium Analytics Portal, Technical Insight Stagflationary risks might be related to an escalation of the energy crisis in Europe. ECB President Lagarde assured this week that it will not happen and that even in the worst-case scenario the Eurozone will still achieve 2.3% growth this year. EUR/CAD,D1 Pivot: 1.3806 Analysis: As long as price is below 1.4172 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3806 Take Profit 1: 1.3750 Take Profit 2: 1.3650...
