What are the projections for the oil and gold prices? Let's discover that in the review for commodities.
NZD/USD: main trend still bearish
Information is not investment advice
The main trend is still bearish. There's a 'Double Top' pattern, which has been confirmed, so the price is likely going to test the nearest support at 0.6543 in the short term. However, previously we had a 'Thorn' pattern, so it's possible to have an upward correction little later on. So, if any bullish pattern forms thereafter, the pair could test the closest resistance at 0.6579 - 0.6687.
Oil prices surged Wednesday, with a sharp fall in US crude stockpiles adding to increased optimism the reopening drives in Europe and the US will boost overall fuel demand.
Non-farm payrolls will come out on Friday at 15:30 MT (GMT+3). Let's get ready together!