2019-11-11 • Updated
Recommendations:
SELL 108.5 SL 109.05 TP 106.4
BUY 109.75 SL 109.2 TP 112.1
On the daily chart, USD/JPY bulls are trying to leave the short-term descending channel. If they fail and bears manage to renew August low and conquer support at 108.03, risks of decline towards 127.2% and 161.8% targets of the AB=CD pattern will increase.
On H1, USD/JPY formed a “Widening wedge". The return of the pair to 38.2% and 23.6% of the wave 4-5 may be used for buying. On the other hand, another test of support at 108.54 can be used for selling.
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 ...
Bearish scenario: Selling below 150.30 with TP1: 150.00... Bullish scenario after retracement: Intraday buys above 149.40 with TP: 150.00, TP2: 151.00...
Ahead of the release of US February Retail Sales data, the US Dollar (USD) is showing a modest recovery. Analysts at BBH assess the potential impact of the upcoming data on the USD. A soft reading in spending could prompt another downward correction in the USD, as it might indicate a weakening consumer sentiment. Market expectations...
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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