Ahead of the release of US February Retail Sales data, the US Dollar (USD) is showing a modest recovery. Analysts at BBH assess the potential impact of the upcoming data on the USD. A soft reading in spending could prompt another downward correction in the USD, as it might indicate a weakening consumer sentiment. Market expectations...
NZD/USD: bulls stabilize the trend
2019-11-11 • Updated
Recommendation:
BUY 0.6895 SL 0.684 TP1 0.6995 TP2 0.705 TP3 0.7085
On the daily chart of NZD/USD, bears managed to take control over the situation and pull the pair towards the lower border of the upward channel due to the "Three Indians" pattern. The successful break of the diagonal support near 0.6855 will make the kiwi fall towards the 0.6690-0.67 levels.
On H1, the pair needs to test the resistance at 0.6895 to stabilize the upward trend. If bulls manage to do it, there will be a chance to reach the 161.8% and 261.8% targets of the junior and senior AB=CD patterns.
Similar
The month of February saw markets make several instinctive moves as well as create opportunities for proper leveraging of fundamental releases. Despite being a leap-year, there wasn’t any real impact on price delivery in the course of the month. As we await the opportunities that lie ahead in the month of March, here are a few thoughts to consider.
In the early hours of Tuesday, the US Dollar faces challenges in maintaining its strength against major currencies, with the US Dollar Index struggling to surpass the 104.00 mark. Investors are eagerly anticipating the release of key economic data, including January Durable Goods Orders and the Conference Board's Consumer Confidence Index for February. Additionally, the economic calendar includes...
Latest news
The Reserve Bank of Australia (RBA) is widely anticipated to maintain its current interest rates at 4.35% following its two-day meeting concluding on Tuesday. Despite holding rates steady since December, the RBA has hinted at the possibility of further rate hikes due to persistently high inflation, which has exceeded its target range of 2% to 3%.
Coinbase (#COIN) saw its revenue rise to $773 million in Q1 2024, marking a 23% increase from the previous quarter and surpassing analyst expectations.
Bearish scenario: Sales below 80.00 with TP1: 79.60... Anticipated bullish scenario: Intraday purchases above 80.70 with TP: 81.50...