USD/ZAR is capable of more downside on the ongoing trade optimism and as the market’s view switches to the Federal Reserve’s meeting later this month.
Daily Market Analysis
EUR/USD spiked down to the September low in the 1.0930 but failed to stay there and closed around 1.1060 on Thursday.
When looking for pairs to trade to benefit from today’s meeting of the European Central Bank, pay attention to EUR/NZD
CHF/JPY formed a “bullish engulfing” pattern on the W1.
NZD/USD has started correcting up in September. Will this recovery last?
The move above 1,496 and the psychological level of 1,500 will trigger a bullish scenario for XAU/USD.
The technical setup for GBP/USD allows expecting a rebound but it has to rise above the resistance first.
On Monday, AUD/CHF broke above the line connecting April and July highs at 0.6785 and managed to close the day above it.
Last week USD/CAD was rejected on the upside: the pair failed to settle above 1.3350.
The European Central Bank will meet on Thursday, September 12. What does it mean for the EUR?
The USD is going to be volatile on Friday, September 6, as America will release Nonfarm Payrolls data at 15:30 MT time.
Last week, EUR/NZD got rejected from the resistance at 1.7590 thus failing to reach new highs.