USD/CAD has made an immense move to the downside on Tuesday falling by about 200 pips.
NZD/JPY is doing its best
BUY 69.10; TP 69.70; SL 68.90
SELL 67.75; TP 67.25; SL 67.90
NZD/JPY is surviving a period of correction/consolidation within the long-term downtrend. The pair’s currently in the middle of the range and the decisive action of bulls may take it up to its upper border in the 69.70 area (the declining 100-day MA; 50% Fibonacci retracement of the July-August decline). To get a chance to test this area, the price firstly needs to get above the interim resistance of 69.00 (Oct. 11 high). If market sentiment turns sour and NZD/JPY gets rejected on the upside once again, the fall below 68.00 (50-day MA) will make it vulnerable for a decline to support line in the 67.15 zone.
Last week NZD/USD once again met resistance in the 0.6155 area. As you can see from the chart, this area stopped the pair twice before within the recent month.
It’s worth paying attention to AUD/JPY. The pair has approached the resistance line connecting April and May highs.
Oil prices have been climbing up for a long time. What have stopped them?
There has been some movement in the EUR/USD chart. What's happening?
There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?