Source: PaxForex Premium Analytics Portal, Technical Insight On Tuesday, U.S. stock markets completed trading in the red zone on renewed concerns about the coronavirus situation in New York. New York Mayor Bill de Blasio said the share of tests for coronavirus with a positive result for the first time in recent months again exceeded 3%, writes CNBC. S&P 500, H4 Pivot: 11328.00 Analysis: Provided that the index is traded below 11490.00, follow the recommendations below: Time frame: H4 Recommendation: short position...
Source: PaxForex Premium Analytics Portal, Technical Insight Minister of Public Procurement of Canada Anita Anand said that the government has agreed with Abbott Laboratories to supply 7.9 million express tests for COVID-19 USD/CAD, 30 min Pivot: 1.3385 Analysis: Provided that the currency pair is traded above 1.3370, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.3385 Take Profit 1: 1.3445 Take Profit 2: 1.3465 Alternative scenario: In case of breakdown of...
Source: PaxForex Premium Analytics Portal, Technical Insight The continued recovery of the Chinese economy increases risk appetite and enhances investor confidence, demand for gold may fall in the short term, despite several negative factors. GOLD/USD, 30 min Pivot: 1881.69 Analysis: Provided that the price is above 1872.00, follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1881.69 Take Profit 1: 1895.00 Take Profit 2: 1906.00 Alternative scenario: In case of...
Source: PaxForex Premium Analytics Portal, Technical Insight The Japanese government plans to gradually lift restrictions on travel abroad in October, according to Monday's Nikkei Asian Review. The Japanese newspaper reports that this step is being considered to encourage the removal of restrictions on entry imposed in other countries. The government is said to give priority to 10 countries and regions with low COVID-19 cases, including Australia, New Zealand, and Vietnam. USD/JPY, 30 min Pivot: 105.57 Analysis: Provided...
Source: PaxForex Premium Analytics Portal, Technical Insight According to UOB Group analysts, they note an increasing probability that the Central Bank of New Zealand will cut the key interest rate, but they intend to revise their forecasts only after the November meeting of the Central Bank. NZD/USD, 30 min Pivot: 0.6556 Analysis: Provided that the currency pair is traded above 0.6531, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 0.6556 Take Profit 1: 0.6595 Take...
