
The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
2019-11-11 • Updated
NZD/USD today reversed up from the support area lying between the lower daily Bollinger Band, 61.8% Fibonacci correction of the upward impulse (1) from November and the strong round support level 0.70000 (former resistance level from December). Given the oversold daily Stochastic - NZD/USD is expected to rise toward the next buy target at next resistance level 0.7180.
The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
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This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
On Thursday, the 2nd of February, the Bank of England will publish its report concerning interest rates and inflation data for the Eurozone. Professionals and investors anticipate that Andrew Bailey’s lead team of policy makers will likely raise interest rates to 4%; the highest in over a decade, for the tenth time in a row.
The first FOMC meeting comes after a buildup of anticipation from traders and investors alike, as the markets await what posture the Fed will take regarding the interest rates; would there be a hike or a cut in interest rates?
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