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: the yen is accelerating its pace
2019-11-11 • Updated
On the USD/JPY daily chart, quotes returned to the borders of the downward trading channel. The bears regained control over the pair. We expect the continuation of the downward movements towards i108.8 (50% of the last long-term upward wave) and 107.7 (target 200% in the AB = CD pattern). The nearest important resistance levels can be found near 111.15 and 111.55-111.75.
On the USD/CAD hourly chart, the quotes are sliding towards 161.8% and 224% targets in the AB = CD patterns (109.5-109.7). If they go out from the downward trading channel, it will lead to the correction to 111.45-111.55.
Recommendation: SELL 111,55 SL 112,10 TP 109,7.
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Ahead of the release of US February Retail Sales data, the US Dollar (USD) is showing a modest recovery. Analysts at BBH assess the potential impact of the upcoming data on the USD. A soft reading in spending could prompt another downward correction in the USD, as it might indicate a weakening consumer sentiment. Market expectations...
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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.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...