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NZD/CAD Summer Rally

NZD/CAD has the tendencies to rally during summer periods(see Figure 1) or at least to make a pause in the trend and stay inside a range. We can see that right from the first few days of Jun the market is starting to rally and more often it puts in place a major swing low. The seasonality are a strong tool to use but they never must be used alone and in combination with other technical tools, because the seasonality it only gives us the tendencies of what we should expect the marke…
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Update 4: As expected we pushed higher from previous week support at 0.8440 and we managed to break and close above the big figure 0.8500 which is another positive sign for the bulls in the short term price action. Next week I'm expecting the big figure to be retested and old resistance to become new support.

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Update 5: Last Friday we saw the power of the big round number 0.8500 and the explosive rally from that level. For Monday we should expect a retrace to at least 0.8590 which is near my forecast target of 0.8591 and which is a previous strong supply area that now can act as support. The plan for Monday will be a break above Friday's high 0.8650 or a retest than a quick fade and a break towards 0.8590

WallStreet6 avatar

really great analysis!

Mariia avatar
Mariia 2 Aug.

well done Daytrader21

anna_n avatar
anna_n 2 Aug.

great thoughts as usual!

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EUR/USD Bull Traps


This morning just after the London open some market commentary were crossing the market from ECB's Nowotny who said:" The outlook for Europe as a whole is much better than a year ago; monetary policy has contributed substantially to economic recovery; it’s a positive sign that banks are repaying long-term funding; ECB prepared to be watchful; helpful for interest rate policy if price stability ensured; sees neither inflation or deflation in short or medium term for Eurozone."
And it seems that …
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