Source: PaxForex Premium Analytics Portal, Technical Insight Tighter quarantine restrictions due to the Coronavirus pandemic will continue to impede Switzerland's economic recovery. The KOF estimates that there are two scenarios for Swiss GDP. Both have something in common: the Swiss economy will not recover before 2023. USD/CHF, 30 min Pivot: 0.9181 Analysis: Provided that the currency pair is traded below 0.9205, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0....
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market fell significantly on Friday, with the Dow Jones Industrial Average experiencing the worst week and month since March. There was considerable volatility in the market during the week before the presidential election. Worsening investor sentiment was due to record increases in COVID-19 infections, new restrictions in Europe, and mixed quarterly results of major technology companies. S&P 500, H4 Pivot: 3278.00 Analysis: Provided that the...
Source: PaxForex Premium Analytics Portal, Technical Insight Last week was the best week of the month for the dollar, as an increase in coronavirus cases is causing nervous traders to turn to this safe haven. AUD/USD, 30 min Pivot: 0.7000 Analysis: Provided that the currency pair is traded below 0.7035, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.7000 Take Profit 1: 0.6995 Take Profit 2: 0.6975 Alternative scenario: In case of breakout of the level 0.7035...
Source: PaxForex Premium Analytics Portal, Technical Insight Stock Market America closed Thursday's trading on the positive after the publication of data on record U.S. GDP growth in the last quarter. The U.S. economy jumped 33.1% year on year in the third quarter, according to preliminary data from the U.S. Department of Commerce. Nasdaq Composite added 180.72 points (1.64%) to 11185.59 points. Nasdaq 100, H4 Pivot: 11089.00 Analysis: Provided that the index is traded below 11280.00, follow the recommendations below...
Source: PaxForex Premium Analytics Portal, Technical Insight Lagarde: setting up a policy means reviewing all available tools: We acted on the first wave, we will act on the second wave; the GDP in the 4th quarter will be low, but we do not know if it will be negative; No deflation is expected; We will monitor the impact of the pandemic on risks; Banks are waiting for tighter credit conditions; We will accelerate PEPP purchases if necessary; There is little doubt that the ECB will take action in...
