ONLINE FOREX BROKER
2021-11-11 • Updated
NZD/CAD continues to fall inside the minor corrective wave 2 – which started earlier from the resistance zone lying between the resistance level 0.9450, upper daily Bollinger Band and the 50% Fibonacci correction level of the previous sharp downward ABC correction (2) from the start of February.
The price is currently approaching the support level 0.9270 (low of the aforementioned ABC correction (2)). If the price breaks below this support level - NZD/CAD can then fall to the next sell target at the support level 0.9220 (which stopped the previous long-term ABC correction ② in January).
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.
The Reserve Bank of New Zealand surprised the markets again by refraining from raising interest rates a day after the country announced a nationwide lockdown due to multiple covid19 cases in the country…
Reserve Bank of New Zealand will likely deliver up to two interest rate hikes before the end of the year and many more news!
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
Western countries are trying to find other options for oil and gas supplies after a 10th package of sanctions, which will put more pressure on Russian oil and decrease global oil supply. Italy, for example, is in talks with Libya.
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