Source: PaxForex Premium Analytics Portal, Technical Insight After the decline, the USD/CAD pair resumed its growth, as the Canadian dollar got under the pressure of oil prices by 8%. As a result, the price broke through the 55 EMA and targeted the 200 SMA, which might be difficult to breakthrough. The RSI reached the overbought area, which might suggest a pullback. The MACD indicator has entered the green zone, which is a bullish signal. In general, the trend change looks possible. The formation of rising highs and lows is not...
Source: PaxForex Premium Analytics Portal, Technical Insight After a short pause, technical stocks are back in fashion. On Tuesday the Nasdaq index rose 0.3%, while the Dow Jones index fell 1.1% and the S & P 500 dropped 0.8%. This continued on Wednesday as well. Return to technology may lead to a high return on Microsoft stock options. Microsoft (MSFT) closed at a new 52-week high on Tuesday and continued on Wednesday. This had a bullish look along with market changes. The critical support is around $175, which coincides...
Source: PaxForex Premium Analytics Portal, Technical Insight Fitch International Ratings has affirmed Australia's long-term foreign currency Issuer Default Rating (IDR) at 'AAA', changing its outlook to 'negative' from 'stable'. The agency said the 'negative' outlook reflects the serious impact that the COVID-19 coronavirus pandemic is having on Australia's economy and government finances. "The country's GDP will decline sharply in 2020, and rising government spending in response to...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CHF currency pair is trading at 0.9496 and keeps moving within the decline. The pair is trading below the lower boundary of the Ichimoku Kinko Hyo Indicator Cloud. This indicates that the USD/CHF pair is in a bearish trend. USD/CHF, 30 min Pivot: 0.9504 Analysis: Provided that the currency pair is traded below 0.9530, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 0.9504 Take Profit 1: 0.9475 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight White House adviser Kevin Hassett said today that he expects employment growth of 3.5-4 million in June, but added that stimulation will be necessary even if the data exceed forecasts. He also noted that another incentive program will be adopted in August. USD/JPY, 30 min Pivot: 107.55 Analysis: Provided that the currency pair is traded below 108.00, follow the recommendations below: Time frame: 30 min Recommendation: short position Entry point: 107.55 Take...
