Source: PaxForex Premium Analytics Portal, Technical Insight Canada: manufacturing PMI fell to a six-month low in January: Manufacturing PMI 54.4, pre. 57.9 (record high); New Orders Component 53.6 vs. 57.2; Employment component 51.3 vs. 55.8; Future production component 60.2 vs. 64.1. USD/CAD, 30 min Pivot: 1.2832 Analysis: Provided that the currency pair is traded above 1.2810, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2832 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices declined sharply in last January trading, with the Dow and S&P 500 indicators suffering their biggest losses in a month since October amid volatility due to fears of a market bubble over the performance of GameStop Corp (NYSE:GME). and AMC Entertainment Holdings Inc. Nasdaq 100, H4 Pivot: 12885.00 Analysis: Provided that the index is traded below 13170.00, follow the recommendations below: Time frame: H4 Recommendation: short...
Source: PaxForex Premium Analytics Portal, Technical Insight According to the press secretary of the British Prime Minister B. Johnson, the authorities have full confidence in their supply chains for the Coronavirus vaccine. He confirmed that distribution of the vaccine within the United Kingdom would continue on an equitable basis, but refrained from commenting on contractual agreements between AstraZeneca and the EU. GBP/USD, 30 min Pivot: 1.3729 Analysis: Provided that the currency pair is traded above 1.3690, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market closed Thursday's trading after the Dow Jones and S&P 500 indicators showed the biggest daily drop since late October. Investors focused on corporate reports and statistical data. The Dow Jones Industrial Average index rose 300.19 points (0.99%) to 30,603.36 points. Dow Jones 30, H4 Pivot: 30300.00 Analysis: Provided that the index is traded below 30430.00, follow the recommendations below: Time frame: H4 Recommendation:...
Source: PaxForex Premium Analytics Portal, Technical Insight Commenting on yesterday's Fed verdict on monetary policy, Oxford Economics analysts write: Powell made it clear that the FOMC would rather err on the side of a slower unwinding of accommodation than risk unwinding it too hastily; High levels of uncertainty about the pandemic persist; The economy and labor market are still far from full recovery; The central bank seeks to avoid a repeat of market fever in anticipation of a rollback, which could...
