ONLINE FOREX BROKER
2019-11-11 • Updated
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BUY 0.7000
SL 0.6945
TP 0.7105
On the daily chart, NZD/USD is consolidating between 0.6820-0.7000 (October low and the lower border of the uptrend trade channel). A break of resistance at 0.7000 will return bulls’ hope for resuming the uptrend. On the other hand, successful test of support at 0.6820 will increase the risks of going to 127.2% and 161.8% targets of “Crab” pattern
On H1, aggressive market entries imply getting in on the break of the 0.6905-0.6990 range. According to the conservative approach, it’s necessary to wait for a break of a wider trading range 0.6820-0.7000.
The Crypto market usually also has a rough time in September. Bitcoin lost 12.7% in September 2021, 17.4% in 2020, 17.5% in 2018, 21.4% in 2017 and 45.4% in 2015. The main cryptocurrency increased by 13.3% and 3.95% in 2016 and 2019, respectively.
US100 broke through the strong resistance trendline, following July's inflation numbers on Wednesday, which were less than analysts expected…
Powell wants a soft landing for inflation, as Greenspan did in 1994. But it looks like he will get a hard landing.
A comparative examination of the strength of the US-Dollar often gives tangible insight into the direction of Gold (XAUUSD). The chart above indicates the expectation of a bullish price reaction from the demand zone
The US Dollar has been remarkably sluggish for the past few weeks despite being within a distinct Demand zone. My expectation of a springing rebound off the demand zone has not exactly played out yet, however, the zone remains unbroken.
For those who may be unfamiliar with Price Action trading, the horizontal arrows represent areas where the market structure was broken. As you can see in the scenario above, price broke below the previous low at the two marked instances
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