Last Friday’s NFP was disappointing. The reaction of the markets was astonishing. Will it last longer? Let's find out the main trade opportunities for the upcoming week.
AUD/CAD looking to consolidate above 0.9900
2019-11-11 • Updated
AUD/CAD saw a volatile action during Wednesday’s session, following the BoC’s interest rate decision to keep rates unchanged and as a result, the pair did a strong rebound above the Fibonacci retracement level of 65% at 0.9758. If the move continues to be alive in the short-term, the pair could be on its way to reach the -23.6% Fibo level at 0.9919.
RSI indicator remains in the positive territory.
Reserve Bank of New Zealand will likely deliver up to two interest rate hikes before the end of the year and many more news!
4H Chart Daily Chart The Reserve Bank of Australia decided to keep the current policy unchanged as widely expected…
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
Let's start off with a look at the Daily timeframe on Bitcoin. We currently see price reacting to the rally-base-rally demand zone between the 15,600 - 14,300 price area. Price also seems to have found support off the trendline support as marked in the image above. Interestingly, this means the overall bias on BTCUSD is Bullish.
Central Bank Digital Currencies (CBDCs) are virtual national money. The idea of creating such currencies came to the authorities after the success of cryptocurrencies, which also exist only in digital form.