Source: PaxForex Premium Analytics Portal, Technical Insight The Canadian Dollar is mostly flat on Thursday as markets focus elsewhere in the run-up to Friday’s US Nonfarm Payrolls print. NZD/CAD,D1 Pivot: 0.8314 Analysis: As long as the price is above 0.8200 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8314 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...
Source: PaxForex Premium Analytics Portal, Technical Insight The Pound Sterling (GBP) searches for a potential cushion after Tuesday’s intense breakdown. Pivot: 1.6891 Analysis: While the price is above 1.7000, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6891 Take Profit 1: 1.6800 Take Profit 2: 1.6700 Alternative scenario: If level 1.7000 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point:...
Source: PaxForex Premium Analytics Portal, Technical Insight ECB's de Cos: Timing of ECB rate cut depends on data. EUR/CAD,D1 Pivot: 1.4563 Analysis: As long as the price is below 1.4800 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.4563 Take Profit 1: 1.4500 Take Profit 2: 1.4400 Alternative scenario: If the level of 1.4800 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.4800 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The EUR/JPY cross recovers some lost ground above the mid-155.00s during the early European session on Wednesday. The upside of the cross might be capped as investors anticipate that the Bank of Japan (BoJ) will abandon its ultra-loose monetary policy settings by the first half of 2024. EUR/JPY,D1 Pivot: 155.65 Analysis: While the price is below 157.50, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 155.65 Take...
Source: PaxForex Premium Analytics Portal, Technical Insight The anticipation of a reversal in policy divergence between the Bank of Japan (BoJ) and the Federal Reserve (Fed) in 2024, along with geopolitical risks and China's economic woes, helps limit losses for the safe-haven JPY. Pivot: 179.53 Analysis: As long as the price is below 182.00 follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 179.53 Take profit 1: 178.50 Take Profit 2: 176.50 Alternative scenario:...
