Since the fateful events of March 10th, 2023, I mean the SVB and Signature Bank crash, there has been a lot of attention on the US economy and the Dollar from the international community.
NZD/USD: a “Shark” pattern
2019-11-11 • Updated
BUY 0.6860; TP1 0.6955; TP2 0.6970; SL 0.6840
SELL 0.7000; TP 0.6920; SL 0.7020
NZD/USD rose to the highest levels since the start of December. It rose above 78.6% Fibo of the December-January decline at 0.6890. As a result, there are all prerequisites for the pair to form a “Shark” pattern. The pattern implies further advance of the NZD/USD before it makes a sizeable correction. At the same time, it’s worth noticing that the pair will soon meet resistance of the weekly MAs at 0.6955 and 0.7000, so the way up won’t be easy.
The trade idea is to buy NZD/USD on the pullback to 0.6850 and sell around 0.70, although you may think of other ideas within this framework.
On Friday, March 10, the 16th largest US bank suddenly burst. The bankruptcy became the second largest in history among American commercial banks. In this article, we look at what happened and how it could affect all of us.
In February, the NFP (Non-Farm Payrolls) delivered a great shock, surpassing the forecast by over 400%. The forecast for this month's NFP is currently tied at half of the actual figure from last month's...
Between October 2022, and January 2023, the Japanese Yen outperformed several other currency pairs, resulting in over a thousand pips move on pairs like EURJPY, GBPJPY, and 2000-plus...
The European Central Bank (ECB) raised its interest rates by 0.5% to 3%, as planned, to combat inflation, despite some investors'...
Oil prices fell to a three-month low following the release of US inflation data which was in line with expectations. The annual inflation rate of 6%...