Source: PaxForex Premium Analytics Portal, Technical Insight USD/CAD consolidates around mid-1.3200s, holds above multi-month low touched last week. Pivot: 1.3251 Analysis: While the price is below 1.3600, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.3251 Take Profit 1: 1.3200 Take Profit 2: 1.3100 Alternative scenario: If level 1.3600 is broken-out, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.3600...
Source: PaxForex Premium Analytics Portal, Technical Insight AUD/USD hovers around the 0.6800 mark on the first trading day of 2024, US PMI data eyed. AUD/USD,D1 Pivot: 0.6818 Analysis: Provided that the currency pair is above 0.6700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.6818 Take Profit 1: 0.6900 Take Profit 2: 0.7000 Alternative scenario: In case level 0.6700 is broken-down, follow the recommendations below: Time frame: D1 Recommendation:...
Source: PaxForex Premium Analytics Portal, Technical Insight Forecasts indicate that the UK will be the fourth-best performing G7 economy concerning pre-pandemic levels, with real GDP expected to be around 2.7% higher in 2024 on average relative to 2019 levels. GBP/CHF,D1 Pivot: 1.0760 Analysis: While the price is above 1.0700, follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 1.0760 Take Profit 1: 1.0900 Take Profit 2: 1.1000 Alternative scenario: If the level of 1....
Source: PaxForex Premium Analytics Portal, Technical Insight The Bank of Canada (BoC) suggested in the statement at its December meeting that the governing council felt more optimistic about the nation's inflation outlook and opened the door for additional rate hikes. NZD/CAD,D1 Pivot: 0.8406 Analysis: As long as the price is above 0.8200 follow the recommendations below: Time frame: D1 Recommendation: long position Entry point: 0.8406 Take Profit 1: 0.8450 Take Profit 2: 0.8550 Alternative scenario: If...
Source: PaxForex Premium Analytics Portal, Technical Insight Pound Sterling extends upside despite deepening UK recession fears. Pivot: 1.6906 Analysis: While the price is above 1.7000, follow the recommendations below: Time frame: D1 Recommendation: short position Entry point: 1.6906 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: 1.7000 Take profit 1: 1.7200...
