Technical outlook and ideas for Forex pairs
We have outlooked several promising Forex pairs and the result can surprise you!
NZD/USD formed a top
Information is not investment advice
NZD/USD formed a big bearish candlestick yesterday. In addition, it returned below the 50-day MA and closed below the 38.2% Fibo of the advance since the end of May. The pair will likely remain volatile, but as long as it stays below the 50-day average at 0.6625, bears will feel good.
On H4, we can see a big top above 0.6610. Currently, the pair is saved from further declines by the 50- and 200-period moving averages that formed a “golden cross”. However, the top looks too heavy and the support may offer only temporary relief. As a result, we have two ideas: to sell on the break below 0.6580 (April low) or look for sell setups if the pair recovers to 0.6620. However, the second trade is not certain for now. If NZD/USD stays above 0.6580 (if the US data keeps disappointing), it may try for an inverted Head and Shoulders and attempt to revisit June highs. Still, that scenario, is far away, for now, so we focus on near-term opportunities.
Similar
Another EUR/USD Trade!
4H Chart Daily Chart We sent out a signal yesterday to long EUR/USD between 1…
New EUR/USD Trade
4H Chart Daily Chart EURUSD declined back yesterday after trying to test its 1…
Popular
Will USDJPY slide lower in 2023?
Last year was tough for the Japanese yen. USDJPY gained more than 30% over 2022, striking above 150 in October. While anticipation of slower Fed rate hikes pulled the pair below the 130 level at the start of 2023, the speculations over the destiny of BOJ’s yield control policy grabbed the attention of the Japanese assets in the middle of January. What lies ahead for traders of the Japanese yen?
BoC Rates Could Alter The Trend on USDCAD and others
Today, at 5:00 pm (GMT +2), the Bank of Canada will publish the Overnight Rate, which represents short-term interest rates, and is pivotal to the overall pricing of the Canadian Dollar in the global markets. Let's look at how the markets are faring ahead of the BoC rates release.
MSFT faces gloomy forecasts ahead of earnings report
In a call scheduled for January 25, 00:30 am GMT+2, Microsoft will publish the company's earnings for the final quarter of 2022 and comment on the results, projections, and outlook for the nearest future of the company.
Choose your payment system
