EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
How to trade NZD/USD on US-Iran news
Information is not investment advice
Market sentiment has worsened on the news about the conflict between the United States and Iran. There are many ways to trade the risk-off sentiment. One of them is to sell NZD/USD.
Technically this idea looks quite reasonable. Last week the pair spiked above the 100-week MA but failed to close above it forming a big spike upwards. This is a sign that sellers don’t want to let the price get higher. On the smaller timeframes, there’s support around 0.6630 and then not much until 0.6580. This provides the scope for selling.
There will be sense to consider bullish positions only if NZD/USD returns above 0.6670. The next resistance will be at 0.6720 (100-week MA).
NZD/CAD has reached a 200-week MA (0.8950) and formed a “shooting star” candlestick on the D1. On the H4, we see a lower high.
XAU/USD has moved this week in line with its short-term uptrend and the overall long-term uptrend reaching $1 865.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
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