The uptrend line has been broken, but there's a 'Double Bottom' pattern, which has been confirmed. Thus, it's likely that the pair is going to test the closest resistance at 0.6756 - 0.6772 in the short term. If a pullback from these levels happens little later on, bears will probably try to reach the next support at 0.6718 - 0.6705, which could be a starting point for a larger bullish correction.
The New Zealand dollar has been really strong lately. Will it beat the multiyear highs?
The dollar gains against low-yielding currencies on Wednesday, hitting a five-month high against the yen as US bond yields jumped on the prospects of further economic recovery.
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Jerome H. Powell, the Federal Reserve chair, stated that the central bank can afford to be patient in deciding when to cut interest rates, citing easing inflation and stable economic growth. Powell emphasized the Fed's independence from political influences, particularly relevant as the election season nears. The Fed had raised interest rates to 5.3 ...
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
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