2019-11-11 • Updated
Recommendation:
BUY 0.6775 SL 0.672 TP1 0.6875 TP2 0.69 TP3 0.699, BUY 0.671 SL 0.6655 TP1 0.681 TP2 0.6875 TP3 0.69
On a daily chart of NZD/USD, bulls could move the pair towards the convergence zone between 0.6855 and 0.67 (38.2% from the last downward wave – 113% target of the “Shark” pattern). As a result, the risks of the reversal increased.
On the H1, the pair reached the 161.8% target of the “Crab” pattern and moved closer to the 113% target of the “Shark” pattern. It increased the risks of correction towards the short-term upward trend. Rebounds from 23.6% and 38.2% supports of CD wave can be used for long positions.
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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