2019-11-11 • Updated
Recommendation:
SELL 0.6840 SL 0.6895 TP1 0.6760 TP2 0.6695 TP3 0.6630,
BUY 0.6895 SL 0.6840 TP1 0.6970 TP2 0.6990 TP3 0.7050
On the daily chart of NZD/USD, the "Three Indians" pattern is implemented. Bears managed to move the pair out of the upward channel. They plan to break the support at 0.6750, activate the "Shark" pattern and reach its 88.6% target.
On H1, the pair moves down due to the combination of the "Three Indians" and "Spike and Ledge" patterns. If the bearish pressure continues, the pair may retest the lower border of the "ledge". Otherwise, if its upper border is broken, bulls will push the pair up.
Canada's forthcoming Consumer Price Index (CPI) data, set for release on Tuesday, is projected to show a year-on-year decline in inflation to 3.2% for October from the previous 3.8%. This potential inflation dip might offer leeway for the Bank of Canada (BoC) to maintain its overnight rate target at 5.0% in the...
Speculation persists regarding the Bank of Japan's potential departure from negative interest rates, yet the USD/JPY maintains its position within a 150–152 range for seven consecutive sessions. Caution is warranted due to a weaker-than-expected Q3 GDP, a slump in imports, and...
The U.S. dollar experienced significant losses as October's inflation data hinted at the Federal Reserve concluding interest rate hikes. The dollar index dropped 1.50% to its lowest since September. October's consumer price index (CPI) showed a ...
The EUR/USD pair is making gains, approaching multi-month highs around 1.0960, driven by a weakened USD and Christine Lagarde's somewhat hawkish remarks before the European Parliament. Minor housing data from the U.S., specifically New Home Sales for October, came in below expectations but didn't significantly impact the pair. Lagarde, President of the...
Global equities on Wall Street experienced a mixed session following the Thanksgiving holiday, heading for the most significant one-month rally since November 2020. MSCI's global shares index slightly eased but was still on track for an 8.5% monthly gain, fueled by growing investor confidence that U.S. interest rates...
Brent crude futures is maintaining stability this Friday, with traders awaiting an OPEC+ meeting that might lead to further supply cuts. Brent crude was down 8 cents at $81.34 a barrel, following a 0.7% drop in the previous session.
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