The NZDUSD has been following a steep downtrend line since March, and we are nearing the 88% retracement of the Sept 2018 lows to December 2018 highs and also the 127% extension of the December 2018 lows to 2019 highs.
One of our traders in our Forex Analytix community chat rooms (guyr) brought the EURNZD inverted head and shoulder’s pattern to our attention.
We are not sure if the upper end of the 1.9000-1.9550 channel will be broken, but it is a risk this time around as the GBP is starting to look constructive against other pairs as well.
The AUDNZD has been in a steep downtrend after breaking below the 1.0500 level.
The USD (DXY) has been range bound for months, and mostly this is a product of many cross currents in the markets. Equity market volatility, weakness of fundamental data globally stating to seep in, the FOMC looking to be at the end of their hike cycle, China and US trade war brewing, and the list […]