The NZD/JPY pair is trading within the cloud. A failed attempt to move higher will push the market to exit the Kumo, confirming a bearish scenario.
NZD/CHF: trade ideas
SELL 0.6500; TP 0.6450; SL 0.6515
BUY 0.6535; TP1 0.6555; TP2 0,6580; SL 0.6420
The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode. NZD/CHF looks better for trading. It came close to the key support in the 0.6505 area (January low). A decline below this level will open the way down to 0.6450 (78.6% Fibo of the 2018 advance).
If the support holds and NZD/CHF recovers above 0.6530, it will get a chance to retest 0.6550 and maybe 0.6585 (the top of the 3-week trading range).
The NZD/JPY pair is now poised to exit the Kumo. If that happens, the currency pair will enter into a new bearish sentiment.
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
Gold is steadily plummeting for the third consecutive day. Where is the bottom? Let’s find out.
UK's Raab supports that virus restrictions are serious, proportionate
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.