Ichimoku Kinko Hyo CNH/JPY: The CNH/JPY pair is trading above the Kumo…
EURUSD is ready to rise
Information is not investment advice
On the H1 chart of EURUSD, the euro is testing the support level of 1.1004 that was formed on Monday. At the same time, the price has touched the lower band of the Bollinger Band indicator and is showing signs of bouncing upwards. The bullish reversal is confirmed by the RSI and the Stochastic Indicator. The RSI stepped into the oversold zone and crossed the 30% bottom-up. The Stochastic Indicator’s fast line crossed the slow one in the same manner within the oversold zone. That presents a good opportunity to open longs. The resistance levels for this scenario may be placed at 1.1022 and 1.1030. The bearish direction may have an additional support level at 1.0988.
Inflation in New Zealand is the highest since 1990, edging to 7.3% in Q2 2022. The currency is under heavy pressure as the Reserve Bank of New Zealand is trying to reverse the inflationary spiral. The week ahead will give us a valuable clue about the country’s monetary policy, and we are here to talk about that.
In the middle of September 2022, the Canadian dollar has fallen to a 2-year low against the USD.
The US dollar index has all chances of reaching the 2000s high of 120.00.