The Kiwi Cross has been moving in a pennant formation, creating consistent lower lows. This Cross will create new lows based on the strength We are seeing currently being exhibited by the USD.
From the 3rd of August 2020 this pair reversed on the weekly timeframe and resumed its downtrend. It has been pulling back since the start of the month of February. It now lingers around a 38.2% retracement zone. I expect this pair to resume its down trend and drop to the 1760.000 levels or even lower.
The alert has been set on the 1 hour timeframe and I will...
The European major is trapped in a daily range at 1.2109. This range will be broken due to dollar weakness backed by weak unemployment claims released moments ago. The major is most likely to touch the 1.22000 zone.
This pair is showing no signs of strength. After breaking the 1.28700 zone we are now headed to 1.23800. Fundamentally inflationary circumstances surround the dollar especially after the passing of the Stimulus relief bill. We are already floating at over 27 Points with this new entry.