The New Zealand Dollar (NZD) is under pressure due to concerns about the country's economic growth, exacerbated by bearish technical indicators and the US Dollar's strength. Recent data showing negative growth in New Zealand, with GDP contracting by 0.1% in Q4 2024, suggests a recession. Despite this, the Reserve Bank of New Zealand (RBNZ) has not ...
USD/JPY: yen’s in the shark’s lair
2019-11-11 • Updated
Recommendation:
BUY 112.35
SL 111.75
TP1 113 TP2 113.25
TP3 113.9
On the daily chart, USD/JPY bulls managed to lead the pair outside of the long-term downtrend channel and settle above resistance at 111.65. A successful test of resistance at 113 will return buyers the hope for going to 113% target of the senior “Shark” pattern.
On H1, there’s a great possibility of a volatile trading. After a break of the upper border of the downtrend channel and reaching 113% target of the junior “Shark” pattern, there may be a pullback and a retest of the diagonal support.
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Bearish scenario: Selling below 150.30 with TP1: 150.00... Bullish scenario after retracement: Intraday buys above 149.40 with TP: 150.00, TP2: 151.00...
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
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