After bouncing off the previous Major trendline last month, Bitcoin seems to be retesting the support area again in hopes of catching a bullish momentum.
NZD/USD: bulls counterattack
2019-11-11 • Updated
SELL 0.688 SL 0.6935 TP1 0.678 TP2 0.67 TP2 0.665
BUY 0.696 SL 0.6905 TP1 0.706 TP2 0.7115 TP3 0.718
On the daily chart of NZD/USD, a pin bar let bulls to counterattack. They are trying to form a double bottom and return the situation under control. To begin with, buyers need a successful test of resistance at 0.696 (upper border of a downtrend channel + 23.6% Fibo correction).
On H1, NZD/USD is forming “Three Indians” during a correction. A decline below supports at 0.6890 and 0.6880 will increase the risks of a downtrend’s resumption.
After completing a substantial 4-week bullish rally, the US Dollar closed last week with a big bearish candle, which has led to a 2.63% decline in US Dollar prices. The million-Dollar question on traders' and investors' minds: is this the start of a US Dollar dump or just a correction?
All eyes seem to be on the US Dollar as traders await the Federal Reserve Chair's speech this Thursday at the Cato Institute's Annual Monetary Conference.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD
The US dollar index has all chances of reaching the 2000s high of 120.00.
The Consumer Price Index announcement by Statistics Canada is set for release in a few hours will reveal the state of inflation in the Canadian economy