EUR/JPY rebounded from the 123.00 level on the H4. The pair formed a “piercing line” pattern.
NZD/CHF: trade ideas
Information is not investment advice
The NZD remains in a downtrend versus the CHF and the JPY as the market is still in the risk-averse mode. NZD/CHF looks better for trading. It came close to the key support in the 0.6505 area (January low). A decline below this level will open the way down to 0.6450 (78.6% Fibo of the 2018 advance).
If the support holds and NZD/CHF recovers above 0.6530, it will get a chance to retest 0.6550 and maybe 0.6585 (the top of the 3-week trading range).
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 GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?