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 […]
Traders have witnessed the tremendous selling pressure GBPNZD has suffered from, following all the BREXIT headlines and negotiations over the last few weeks.
The NZDUSD has had a relentless bounce higher the last couple weeks and we are now testing the underside of the broken multiyear trend line and also the 38.2% Fibonacci retracement of the 2018 low to high range.
The AUDNZD is testing the lower end of the triangle that has been forming since 2015, but you could really argue since 2013.
The NZDJPY has formed a quadruple bottom, and with the pair breaking out of the descending channel that has been forming during all of 2018, the risk of a breakout higher is increasing.
2018 is nearly upon us and the past year was certainly full of interesting events. Potentially dangerous political events in the EU – such as the French & German elections and the Catalan independence referendum – were safely navigated.
Ahead of Thursday’s ECB meeting and with a crisis brewing in Spanish Catalonia the EUR is trading heavy or at significant resistance in some crosses which are worth watching for bearish reversals.