Source: PaxForex Premium Analytics Portal, Technical Insight New Zealand's Consumer Price Index (CPI) eased further in the fourth quarter of 2023. NZD/CAD,D1 Pivot: 0.8215 Analysis: As long as the price is above 0.8200 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8215 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 position...
Source: PaxForex Premium Analytics Portal, Technical Insight Loonie struggles under the weight of a dovish Bank of Canada (BoC) that is still extremely cautious on rate cuts with Canadian inflation not expected to return to the BoC’s 2% target until 2025. Pivot: 1.7201 Analysis: While the price is above 1.7000, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.7201 Take Profit 1: 1.7300 Take Profit 2: 1.7400 Alternative scenario: If level 1.7000 is broken-down,...
Source: PaxForex Premium Analytics Portal, Technical Insight Today ECB takes centre stage and is expected to leave its rates unchanged. President Lagarde is also seen reinforcing the case of a rate cut in the summer. EUR/CAD,D1 Pivot: 1.4717 Analysis: As long as the price is below 1.4800 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4717 Take Profit 1: 1.4500 Take Profit 2: 1.4400 Alternative scenario: If the level of 1.4800 is broken-out, follow the...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/JPY cross extends its downside during the Asian trading hours on Wednesday. EUR/JPY,D1 Pivot: 160.68 Analysis: While the price is above 157.00, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 160.68 Take Profit 1: 161.00 Take Profit 2: 162.00 Alternative scenario: If the level 157.00 is broken-down, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 157.00...
Source: PaxForex Premium Analytics Portal, Technical Insight The Japanese Yen ticks higher during the Asian session on Wednesday and for now, seems to have stalled the overnight retracement slide from a one-week high, albeit lacks follow-through buying. Pivot: 187.87 Analysis: As long as the price is above 183.00 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 186.76 Take profit 1: 188.50 Take Profit 2: 190.00 Alternative scenario: If the level of 183.00 is broken-...
