Source: PaxForex Premium Analytics Portal, Technical Insight U.S. stock indices fell on Friday after the collapse the day before on the background of declining stock prices for technology companies. The Dow Jones index dropped 159.42 points (0.56%) to 28133.31 points. Dow Jones Index, 30 min Pivot: 28000.00 Analysis: Provided that the currency pair is traded below 28325.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 28000.00 Take Profit 1: 25950.00 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The campaign before the general elections began in New Zealand, reports Reuters. There was a brief ceremony in the Parliament to begin preparations for the elections, which are scheduled for October 17. Initially, elections were to be held back in August, but the New Zealand authorities postponed them because of the outbreak of COVID-19 in Auckland. NZD/USD, 30 min Pivot: 0.6707 Analysis: Provided that the currency pair is traded below 0.6729 follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The Financial Times quoted an unnamed ECB spokesman as saying that euro growth "is always worrying amid low demand," which again collapsed the single currency, which had previously been weakened by a statement by Bank Chief Economist Lane, who said the Central Bank was monitoring the euro. EUR/USD, 30 min Pivot: 1.1852 Analysis: Provided that the currency pair is traded above 1.1820, follow the recommendations below: Time frame: 30 min Recommendation...
Source: PaxForex Premium Analytics Portal, Technical Insight The price of gold fell to a nearly one-week low on Thursday due to the strengthening of the dollar and growing hopes for a recovery in the global economy, which increased risk appetite. GOLD/USD, 30 min Pivot: 1935.56 Analysis: Provided that the price is below 1946.00 please follow these recommendations: Time frame: 30 min Recommendation: short position Entry point: 1935.56 Take Profit 1: 1956.00 Take Profit 2: 1970.00 Alternative scenario: In case...
The U.S. Non-Farm Payrolls Report (NFP), which comes out this Friday on 04.09.2020, is positive on the consensus forecast, but less than last month. The unemployment rate in the United States is gradually declining, which has a positive impact on the economy as a whole. But the Fed continues to pursue ultra-soft stimulus policies. And on Thursday, the Central Bank decided to change its approach to inflation targeting. It may indicate that the U.S. economy is still deep in the negative zone, as evidenced by the U.S. GDP report last...
