Source: PaxForex Premium Analytics Portal, Technical Insight Global recovery/reflation trade is helping to improve Australia's trading conditions as commodity prices continue to rise. The price of iron ore has recently risen sharply and is now approaching its highest level in nearly a decade. If the external environment is still favorable to the Aussie dollar, as we expect it to be, it will force the RBA to keep its soft policy. AUD/USD, 30 min Pivot: 0.7654 Analysis: Provided that the currency pair is traded below 0....
Source: PaxForex Premium Analytics Portal, Technical Insight The price of gold fell to an almost nine-month low on Friday as higher bond yields and a strong dollar continued to reduce the appeal of the precious metal. Hopes that the U.S. Federal Reserve will take steps to curb rising yields also declined. GOLD/USD, 30 min Pivot: 1702.00 Analysis: Provided that the price is above 1696.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1702.00 Take Profit 1: 1714.00 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The US dollar will keep rising until the Fed introduces a yield curve control tool, which will be the beginning of a long-term decline. Before Powell's speech, the markets were expecting him to announce something like that, but it looks like the time has not come yet. From this point of view, the important thing is the March 7 meeting, during which the views on the bond market may be voiced, but until then, the Fed will keep the status quo. GBP/USD, 30 min Pivot...
Source: PaxForex Premium Analytics Portal, Technical Insight On Thursday the U.S. stock indices declined for the third session in a row after the tech stocks as the comments of the head of the US Federal Reserve Jerome Powell failed to allay the fears of the investors concerning the recent growth of the government bonds' yield. The Nasdaq Composite lost 274.28 points, or 2.11%, to 1,2723.47 points, its lowest level in three months. Nasdaq 100, H4 Pivot: 12454.00 Analysis: Provided that the index is traded below...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S.: unit labor costs rose 6% in the fourth quarter, up from a forecast of 6 6.7%: U.S. unit labor costs rose less than expected in Q4; U.S. dollar index holds for moderate daily gain above 91.10 after data release. USD/JPY, 30 min Pivot: 107.92 Analysis: Provided that the currency pair is traded above 107.70, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 107.92 Take Profit 1: 108.15 Take Profit 2: 108....
