Stocks, oil, and risk currencies gained on Tuesday as the formal go-ahead for US President-elect Joe Biden to begin his transition burnished a November already boosted by Covid-19 vaccines.
NZD/USD is at risk
Information is not investment advice
NZD/USD got rejected from the 200- and 100-day MAs in the 0.6710-0.6995 area. It formed a “bearish engulfing” pattern on D1 and went below the weekly pivot point at 0.6673. The Awesome Oscillator is negative on H4 and the NZD/USD formed a “falling three methods” pattern. This opens the potential for more downside. To resume the uptrend, it has to return above 0.6710.
EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.
USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.
Let's trade GBP/USD. It gives a very interesting bullish layout currently - you'll find both mid-term and long-term strategies inside.
Asia-Pac bourses took impetus from the gains on Wall Street where stocks rallied to all-time highs and the Nasdaq outperformed.
There many exotic pairs out there. There many reasons to trade them, too. What are they? Read the article, and you'll see.