Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada decided to cut interest rates at its July meeting to 4.5%, hinting at further easing of monetary policy where appropriate. NZD/CAD,D1 Pivot: 0.8274 Analysis: As long as the price is above 0.8200 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8274 Take Profit 1: 0.8400 Take Profit 2: 0.8450 Alternative scenario: If the level of 0.8200 is broken-down, follow the recommendations below: Time...
Source: PaxForex Premium Analytics Portal, Technical Insight The upside of the GBP could be limited due to increased risk aversion amid rising Middle-East tensions. Pivot: 1.7444 Analysis: While the price is above 1.7600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.7444 Take Profit 1: 1.7300 Take Profit 2: 1.7200 Alternative scenario: If level 1.7600 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1....
Source: PaxForex Premium Analytics Portal, Technical Insight ECB policymaker Olli Rehn stated on Wednesday that the ECB could continue cutting interest rates if policymakers are confident that inflation is slowing in the near future. EUR/CAD,D1 Pivot: 1.5022 Analysis: As long as the price is above 1.4900 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.5022 Take Profit 1: 1.5100 Take Profit 2: 1.5200 Alternative scenario: If the level of 1.4900 is broken-down,...
Source: PaxForex Premium Analytics Portal, Technical Insight EUR/JPY trims a part of strong intraday gains, manages to hold above the 159.00 mark. EUR/JPY,D1 Pivot: 160.24 Analysis: While the price is below 163.00, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 160.24 Take Profit 1: 158.00 Take Profit 2: 155.00 Alternative scenario: If the level 163.00 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight GBP/JPY spikes after dovish remarks by BoJ's Uchida and struggles to hold above the 187.00 mark. Pivot: 186.50 Analysis: As long as the price is below 190.00 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 186.50 Take profit 1: 184.00 Take Profit 2: 180.00 Alternative scenario: If the level of 190.00 is broken-out, follow the recommendations below: Time frame: D1...
