The US Dollar is Still the King, But!
Despite a slight decline from its highest levels since 2002, around 109 range, it is just a correction, and the green king, the US dollar, will resume its rally…
EUR/NZD is in a triangle
2019-11-11 • Updated
Trade ideas
SELL 1.7240; TP1 1.7170; TP2 1.7050; TP 1.7260
BUY 1.7455; TP 1.7550; SL 1.7435
EUR/NZD met resistance in the 1.7570 area, at the line connecting the 2019 highs. The pair failed to close near this level last week and went down to consolidate around 1.7325. On H4, we can see that the consolidation is taking the form of a triangle and that Awesome Oscillator got into the negative territory. The decline below 1.7250 (lower border, 50-period MA) will open the way down to 1.7170 (38.2% Fibo of the July-August advance) and 1.7050 (50% Fibo).
The upper border of the triangle at 1.7430 likely provide resistance. Above it, the pair will have a chance to retest 1.7570, but only a break above this level can open the way to 1.7800.
Similar
How will Jackson Hole Meeting Affect Markets?
What will happen? Federal Reserve Chair Jerome Powell will give a speech during the Jackson Hole Symposium on August 26 at 18:00 GMT+3…
Forex, Gold, Oil, and Stocks: What to Trade on July 25-29?
As central banks raise rates amid recession fears and companies deliver financial results, markets are super active and provide multiple trade opportunities. Let's see what awaits traders this week!
Latest news
PAIRS TO WATCH FOR REVERSALS THIS MONTH
Over the last couple of weeks, GBPUSD and a few other commodities have breached their recent swing highs and lows, while some have even gone on to create new All-Time Highs and Lows
United Nations Call the Fed to Cut Rates
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
It’s Time to Look at New Zealand
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
