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2020-07-02 • Updated
In December 2019, NZD/CAD traded at 0.8800. Since then, it never came close to that mark. In May, however, it made confident move upwards and eventually traded the entire June right below that resistance. It seems that the risky side finally took over and pushed NZD/CAD above that mark.
Currently, it is looking at 0.8870 - that is a strategic resistance left by July 2019. Very likely, a consolidation or sideways movement will occur at that level similar to how it was below 0.8800. After that, it will probably be crossed upwards. Watch out for possible downward reversals, though, - key levels like changing the direction.
Gold Daily Chart Throughout last week’s trading, gold traded within a tight range, but it also managed to hold well above its 1775 support area until the end of the week, while the technical indicators has improved over the past few days, including…
Daily Chart The US Dollar Index tried to break above 93…
4H Chart Daily Chart Gold managed to rise further at the end of last week’s trading, reaching our short-term target at 1750 and 1780 mentioned in our weekly video market update and in our previous daily notes…
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
A United Nations agency is warning that the central bank’s actions create a high risk of pushing the global economy into recession.
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.
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