Source: PaxForex Premium Analytics Portal, Technical Insight The decline in Crude oil prices is contributing to downward pressure on the Canadian Dollar. NZD/CAD,D1 Pivot: 0.8250 Analysis: As long as the price is above 0.8200 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8250 Take Profit 1: 0.8450 Take Profit 2: 0.8550 Alternative scenario: If the level of 0.8200 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short ...
Source: PaxForex Premium Analytics Portal, Technical Insight Bank of England (BoE) Deputy Governor Sarah Breeden said on Wednesday that she is less concerned that the bank rate might need to be tightened further. Pivot: 1.6997 Analysis: While the price is above 1.6900, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.6997 Take Profit 1: 1.7200 Take Profit 2: 1.7300 Alternative scenario: If level 1.6900 is broken-down, follow the recommendations below: Time frame:...
Source: PaxForex Premium Analytics Portal, Technical Insight The ECB has adopted the tone of the BOE and the Federal Reserve after Bundesbank member Isabel Schnabel said “the last mile may be the most difficult one” to bring down inflation. EUR/CAD,D1 Pivot: 1.4510 Analysis: As long as the price is below 1.4700 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4510 Take Profit 1: 1.4400 Take Profit 2: 1.4300 Alternative scenario: If the level of 1.4700...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/JPY drops from around weekly highs reached on Monday at 160.27 and forms a three-candle ‘evening star’ chart pattern, which opens the door for further losses. EUR/JPY,D1 Pivot: 159.30 Analysis: While the price is above 157.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 159.30 Take Profit 1: 161.00 Take Profit 2: 162.00 Alternative scenario: If the level 157.00 is broken-down, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The GBP/JPY is virtually unchanged during the North American session, with the pair consolidating within a tight 186.18/186.77 range on Tuesday. Pivot: 186.56 Analysis: As long as the price is above 183.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 186.56 Take profit 1: 188.50 Take Profit 2: 190.00 Alternative scenario: If the level of 183.00 is broken-down , follow the recommendations below: ...
