ONLINE FOREX BROKER
2019-11-11 • Updated
NZD/USD is being offered below the 200 SMA at H1 chart and looks forward to break below the Fibonacci level of 65% at 0.6892. With that move, we can expect further weakness to test the lows from May 16th at 0.6848. If the pair manages to make a rebound at the current stage, then we can expect an advance to test the Fibonacci area of -23.6% at 0.7001. However, the US dollar’s strength should cap gains in the near term.
RSI indicator stays in the oversold territory.
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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