Source: PaxForex Premium Analytics Portal, Technical Insight In May of this year, sales of Tesla electric cars in China reached a record level. Tesla is steadily increasing sales of its electric vehicles in the Chinese market. According to available data, in May this year, Tesla sold 11,095 electric vehicles in the Celestial Empire, which is the company's highest sales figure in the world's largest automotive market. According to the China Passenger Car Association (CPCA), in April Tesla sold only 3,635 electric vehicles...
Source: PaxForex Premium Analytics Portal, Technical Insight Chief Economist of the Bank of England Haldane said that economic activity in Britain has declined sharply and, besides, there is an unprecedented low activity in the labor market. GBP/USD, 30 min Pivot: 1.2688 Analysis: Provided that the currency pair is traded above 1.2675, follow the recommendations below: Time frame: 30 min Recommendation: long position Entry point: 1.2688 Take Profit 1: 1.2755 Take Profit 2: 1.2785 Alternative scenario:...
Source: PaxForex Premium Analytics Portal, Technical Insight In April, global central banks bought 31.6 tons of gold to replenish the gold reserves, the World Gold Council (WGC) estimated. This is 24% less than a month earlier and 35% less than in April last year, but still relatively close to the average monthly volumes for the last half of the year (34.7 tons). The slowdown in purchases was quite expected, WGC notes, given how actively central banks were buying gold in 2018-2019. GOLD/USD, 30 min Pivot: 1689.79...
Source: PaxForex Premium Analytics Portal, Technical Insight The USD/CAD fell to a 3-month low and aimed at 1.3400. The US dollar attracted buyers despite the general improvement in the market sentiment as the NFP report came out much stronger than expected. This report increased the probability of V-shaped economic recovery as well as hopes that the worst is over. Meanwhile, the loonie as a commodity currency is getting a decent support today due to the bullish dynamics of oil quotations. In addition, the Canadian employment...
Source: PaxForex Premium Analytics Portal, Technical Insight Gold trades at 1714 and continues to move within the framework of the decrease. GOLD/USD quotes are moving below the lower boundary of Ichimoku Kinko Hyo Cloud. This indicates a bearish trend. GOLD/USD, 30 min Pivot: 1709.60 Analysis: Provided that the price is above 1705.00, please follow these recommendations: Time frame: 30 min Recommendation: long position Entry point: 1709.60 Take Profit 1: 1722.00 Take Profit 2: 1732.00 Alternative scenario: In case...
