The upcoming August inflation data may send mixed signals. The 12-month headline inflation rate is expected to rise to 3.6%, causing concerns for the Biden administration. However, core inflation, which excludes food and energy prices, is projected to decrease to 4.3%, aligning with the Federal Reserve's goals. Past price trends influence both figures, so looking at recent data for a more accurate picture is crucial.
GBP/NZD: trade opportunities
2019-11-11 • Updated
SELL 0.8815; TP1 0.8750; TP2 0.8700: SL 0.8850
BUY 0.8905; TP 0.8980; SL 0.8880
GBP/NZD has been correcting up since the middle of December. The pair formed an inverted “Head and Shoulders” pattern, the targets of which lie around 0.8980/0.90. This is the area where the pair will also meet resistance of the declining 50-day MA.
On H4, the pair formed what looks like bearish “Three drives” pattern and may correct down to 0.8750/00. At the same time, a break above the short-term resistance at 0.8900 will let the pair to reach its targets at 0.8980/0.90.
Here we go again, my friends. It’s time to look critically into the future of what trading opportunities September might have in store for us. As always, it is essential to note that the views expressed here are mine and should not be considered financial advice without proper examination.
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