Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock index Dow Jones Industrial Average rose to a new record high in trading on Wednesday amid waning worries about a possible increase in U.S. interest rates. At the same time, shares of technology companies continued to decline for the fourth session in a row. Dow Jones 30, H4 Pivot: 34240.00 Analysis: Provided that the index is traded above 34080.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry...
Source: PaxForex Premium Analytics Portal, Technical Insight Bank of Japan (BOJ) spokesman Haruhiko Kuroda said that the central bank could achieve the 2% inflation target by patiently continuing strong monetary policy easing, speaking at a press conference after the monetary policy meeting. USD/JPY, 30 min Pivot: 109.34 Analysis: Provided that the currency pair is traded below 109.45, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 109.34 Take Profit 1: 109.15 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices closed Tuesday's trading with multidirectional changes. Investors were assessing the statement of U.S. Treasury Secretary Janet Yellen, who said that the Federal Reserve may have to raise interest rates to prevent the U.S. economy from overheating if the fiscal spending programs proposed by U.S. President Joe Biden's administration are implemented. The Standard & Poor's 500 fell 28 points (0.67%) to 4164.66 points. S&P 500, H4...
Source: PaxForex Premium Analytics Portal, Technical Insight Following the conclusion of the RBA's monetary policy meeting, RBA Governor P. Lowe presented a monetary policy statement that confirmed that the central bank has no plans to raise the rate until actual inflation settles on a sustainable 2-3% target range, and the regulator does not think it can happen before 2024: The central GDP scenario has been revised upward to 4.75% for 2021 and 3.5% for 2022; The unemployment rate will continue to decline to about 5% by...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold futures prices rose in U.S. trading Monday. On COMEX, a division of the New York Mercantile Exchange, gold futures for June delivery are trading at $1,793.10 per troy ounce, up 1.44% as of this writing. GOLD/USD, 30 min Pivot: 1788.00 Analysis: Provided that the price is above 1781.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1788.00 Take Profit 1: 1799.00 Take Profit 2: 1811.00 Alternative scenario...
