NZD/USD: is the correction over?
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
EUR/USD ahead of NFP
Trade idea
SELL 1.1150; TP1 1.1080; TP2 1.1020; L 1.1170
EUR/USD spiked towards 1.1265 this week but failed to overcome the declining 50-day MA. The pair formed a “shooting star” candlestick and fell. Yet, only now has the euro got to the weekly pivot point at 1.1170. The decline below this level will make the pair slide towards 1.1080 and 1.1020.
The fact that the euro area’s economic figures remain weak, while the US Federal Reserve pulled back the expectations of a rate cut this year, represents another argument for selling EUR/USD. The US Nonfarm Payrolls data at 15:30 MT time will increase volatility.
Elizabeth Belugina
Similar
Trade setups for AUD/JPY
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
How to trade EUR/GBP?
The way EUR/GBP bottomed around 0.8700, then rose above 0.8870 and jumped from the trendline support at 0.8910 shows that the pair possesses bullish momentum.
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