2019-11-11 • Updated
Trade idea
SELL 76.00; TP 75.60; SL 76.15
BUY 76.80; TP 77.30; SL 76.65
NZD/JPY has started recovering at the beginning of January. The pair consolidated in the middle of the bullish channel during the last 5 days. For now, it’s trading above the weekly pivot point at 76.06. The 50-day MA went above the 200-day MA forming a so-called “golden cross”. At the same time, if we check the monthly chart, we’ll see that the pair ran into the 100-month MA at 76.35, so the way up is not so easy either.
A spike in volatility may be expected this week on Thursday when New Zealand releases GDP figures. The forecasts are not that good. The decline below 76.00 will move NZD/JPY down to 75.60 (100-day MA, channel support). Buyers may reappear in this zone. At the same time, a break of the upper border of the consolidation range around 76.75 will open the way up to 77.30 (100-week MA).
During the Asian session on Wednesday, the USD/CAD pair rebounded after two days of losses, reaching around 1.3590. This uptick is fueled by a stronger US dollar and lower crude oil prices, which put pressure on the Canadian dollar. The decline in Western Texas Intermediate (WTI) oil prices to approximately $80.70 is attributed to...
The Australian Dollar (AUD) rebounds on Monday, despite a slight dip in the US Dollar (USD) and higher US Treasury yields. Investors are eyeing Australian monthly Consumer Price Index (CPI) data for February and US Gross Domestic Product (GDP) for Q4 2023. The AUD gains momentum as the ASX 200 Index rises, especially in mining and energy sectors. Additionally, the Aussie...
The New Zealand Dollar (NZD) is under pressure due to concerns about the country's economic growth, exacerbated by bearish technical indicators and the US Dollar's strength. Recent data showing negative growth in New Zealand, with GDP contracting by 0.1% in Q4 2024, suggests a recession. Despite this, the Reserve Bank of New Zealand (RBNZ) has not ...
Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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Don’t waste your time – keep track of how NFP affects the US dollar and profit!
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