Source: PaxForex Premium Analytics Portal, Technical Insight Excessive government measures to combat the coronavirus have dealt a heavy blow to the Swiss economy. The national GDP now awaits a slow and thorny recovery path. It is the opinion of analysts of the Swiss bank Credit Suisse. According to the credit institution, the Swiss economy will be able to fully return to the crisis level no earlier than the end of 2021. USD/CHF, 30 min Pivot: 0.9284 Analysis: Provided that the currency pair is traded above 0.9265, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market completed trading Thursday with growth due to the strengthening of the utilities, raw materials, and telecommunications sectors. At the close of the NYSE, the S&P 500 index rose 0.30 percent. S&P 500, H4 Pivot: 3246.59 Analysis: Provided that the index is traded above 3209.00, follow the recommendations below: Time frame: H4 Recommendation: long position Entry point: 3246.59 Take Profit 1: 3325.00 Take Profit 2: 3375.00...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. dollar rose Thursday as concerns over the global economic recovery, given the second wave of COVID-19 infections, prompted traders to abandon more risky assets in favor of safe haven ones. GBP/USD, 30 min Pivot: 1.2754 Analysis: Provided that the currency pair is traded below 1.2775, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 1.2754 Take Profit 1: 1.2730 Take Profit 2: 1.2705 Alternative...
Source: PaxForex Premium Analytics Portal, Technical Insight The U.S. stock market ended the trading environment with a drop in the negative dynamics of the oil and gas, technology, and raw materials sectors. At the time of closing on the New York Stock Exchange, Dow Jones fell by 1.92%, reaching a monthly low. Dow Jones 30, H4 Pivot: 26760.00 Analysis: Provided that the index is traded below 27460.00, follow the recommendations below: Time frame: H4 Recommendation: short position Entry point: 26760.00 Take Profit 1:...
Source: PaxForex Premium Analytics Portal, Technical Insight Australia, a winner of the pandemic, faced a recession. The economic downturn began in Australia after 28 years of continuous growth, Australian Finance Minister Josh Friedenberg said, CNBC reports. The head of the department noted that the recession was caused mainly by restrictive measures against coronavirus. Earlier, the country was called one of the winners of the pandemic. AUD/USD, 30 min Pivot: 0.7039 Analysis: Provided that the currency pair is traded below...
