The lack of major developments surrounding the US-China trade conflict and the subdued trading action didn't allow the pair to make a decisive move in either direction following that drop, forcing it to move sideways near mid-0.67s. However a positive reports Australian Bureau of Statistics forecast today can attract buyers. FOMC members Barkin and Daly will speak later.
NZD/USD struggling to pull away from multi-year lows, trading below 0.6350. Coming up: ANZ Activity Outlook and Business Confidence reports. We can expect positive greater forecast than july 2019 and possible buy.
previously that purple box was our support line, this pair broke the support line and now purple box area is our resistant line, week ahead we may see more down trend. Trade with correct risk management... our goal is to become profitable trader. Do all the possible analysis before you place any trade and its about finding the best entry point. Good luck traders !!
1.12 resistance level, we expect a retest around that level before this pair goes further down ! we can wait until further confirmation as French flash GDP , German gfk and import price report ahead tomorrow earlier in the morning GMT.
NOTE: Do not get emotionally attached to any of your trades. keep consistency , small percentage of profits every day, month or...
strong resistance is seen at 1.2945-50. If bears break this pair 1.2905 then 1.2890 and 1.2860 can come into play in the near-term.
Cross-party Brexit talks in the limelight which can cause some volatility . Always use the correct risk management.