Commerzbank's analysis suggests a brighter outlook for the New Zealand Dollar (NZD) in the coming months despite recent downward pressure. Factors like broader U.S. Dollar strength and domestic issues have kept the NZD below last year's highs. However, robust labor markets in both New Zealand and Australia and an expected...
USD/ZAR: correction has started
2019-11-11 • Updated
SELL 14.60; TP 14.5250; SL 14.63
It looks like USD/ZAR has overdone its increase in the short-term. The currency pair formed a bearish candlestick with a long upper wick on D1. It tested levels beyond the third weekly pivot resistance level but failed to stay there. As a result, we see a pullback to the downside. The first target for the decline is at 14.5215. The buying interest may re-emerge in this area.
Notice that South African President Cyril Ramaphosa announced the composition of his cabinet. This helped to calm down the nerves of investors worried because of the political delay. Notice that concerns about the US-China trade war will still hurt the market’s sentiment, so be reasonable with your sell targets.
The higher-than-expected inflation data for January has reignited concerns about rising prices and its implications for Federal Reserve policy. While investors had anticipated rate cuts in the near term, the hot inflation print may delay such actions. As the Fed navigates the delicate balance between containing inflation and...
Today, Tuesday, February 13th, at 8:30 am New York time, the Bureau of Labor Statistics (BLS) releases US inflation data related to the Consumer Price Index (CPI). This data, considered high-impact, could generate significant changes in the perception of...
Intraday and swing scenarios based on price action and volume profile.
Brent oil is currently on a bullish trend, facing resistance near $84 and supported by the 200-day EMA. Breaking above this level could lead to a climb towards $90. Short-term support is observed around $80, backed by the 50-day EMA. As summer approaches and travel increases, crude oil tends to benefit from seasonal patterns. Despite temporary setbacks, buying...
Last week I gave a trade idea on XAUUSD with a target around the $2,020 price line. At the time of writing, XAUUSD already exceeded the target and I’m sure that would leave a lot of people wondering what to expect next. Below, I have presented my view of how I expect the price action to turn out in the meantime.