European shares fell on Monday as rising COVID-19 infection rates in Europe prompted renewed lockdown measures in some countries, casting doubt over the economic recovery, with a lack of U.S. stimulus also weighing on sentiment.
NZD/CAD broke support zone
- NZD/CAD broke support zone
- Next sell target - 0.9030
NZD/CAD recently broke the support zone lying between the support level 0.9190 (low of the previous minor correction 4 from February) and the 50% Fibonacci correction of the sharp upward impulse wave from the start of January. The breakout of this support zone accelerated the active minor impulse wave C. NZD/CAD is expected to fall toward the next sell target at the next round support level 0.9030 (low of the earlier waves (a) and (iv)).
Asian equity markets were subdued, and US equity futures traded choppy after last Friday’s losses on Wall Street.
US stock markets tumbled at the opening on Thursday as the Federal Reserve's warnings about a slow recovery from the pandemic.
The dollar index was up late Tuesday afternoon in Asia, extending the 0.8% gain in the previous session, when COVID-19 fears and worries over the US Congress’ stimulus impasse drove a selloff across other assets.
Bank of England Governor Andrew Bailey delivered a speech today. Let’s discuss what it means for a trader.
Gold has started a remarkable downside correction and stands on the key 23.6% retracement area after a failure to hold the 38.2% retracement area.