Weekly Trade Idea For NZD/USD Week: 23-27.11.2020 Key event: NZD. RBNZ’s Governor speech
The Reserve Bank uses monetary policy to maintain price stability and to keep inflation between 1 and 3 percent on average over the medium term. The Bank implements monetary policy by setting the Official Cash Rate, which is reviewed eight times a year.
Hints of rising interest rates strengthen the currency.
Until the speech, we expect prices to range in the actual supply zone. The speech will surely cause a break of the zone either to the next supply zone or back to support levels.
Key Levels:
Resistance 0.6940, 0.7050
Support 0.6780
Trend :
Bullish
Price is ranging in the supply zone between 0.6940 and 0.6890 levels. The speech will likely cause a breakout of the range.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Either a retracement to previous support or a breakup of the supply zone.
Trade Idea for EUR/USD Week: 30-4.12.2020 Key event: USD. Non-Farm Payroll
The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.
We expect a lower reading than the previous month.
Until Friday, we can expect a weakening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies.
Key Levels:
Resistance 1.2000, 1.2150
Support 1.1900, 1.1600
Trend:
Bullish
Price is testing resistance on the last Supply area available before a break higher.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Either a retracement to previous support or a breakup of the supply zone.
Until release day, we expect a continuation of the actual trend. A negative surprising data value could reverse the actual trend direction.
Key Levels:
Resistance 1.2966, 1.3140
Support 1.2546, 1.2256
Trend:
Bearish
Last week, Price broke important support levels. It is now dropping towards the next support levels.
Call to Action/Trade Idea
We will look for any opportunity to join the bearish trend. Any retracement or pullback. Only an unexpected important negative release might overturn the actual trend.
Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.
Key Levels:
Resistance 1.2175, 1.2230
Support 1.2000, 1.1875
Trend:
Bullish
Two weeks ago, the price broke important resistance levels. It is now trading in a range close to a supply area.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.
Weekly trade idea for EUR/USD Week: 21-25.12.2020 Key event: USD. GDP
The Gross Domestic Product Annualized shows the monetary value of all the goods, services, and structures produced within a country in a given period of time. Is a gross measure of market activity because it indicates the pace at which a country’s economy is growing or decreasing.
Until release day, we expect a continuation of the actual Bullish trend. A positive surprising data value could reverse the actual trend direction.
Key Levels:
Resistance 1.2280, 1.2400
Support 1.2175, 1.2000
Trend EUR/USD:
Bullish
Last week, the price broke important resistance levels. It is now in an expansionary bullish phase.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Any retracement or pullback. Only an unexpected important positive release might overturn the actual trend.
The number of new jobs created during the previous month, in all non-agricultural business. The monthly changes in payrolls can be extremely volatile, due to its high relation with economic policy decisions made by the Central Bank.
We expect a lower reading than the previous month.
Until Friday, we can expect a weakening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies.
Key Levels:
Resistance 1.2300, 1.2400
Support 1.2150, 1.2070, 1.2000
Trend EUR/USD:
Bullish
Price is testing 1.2300 resistance. Last week, the price closed with a bearish engulfing candlestick and MACD divergence.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. Given the divergence, we might see a retracement to support levels. From there we will look for buying opportunities.
Until Friday, we can expect a little strengthening of the USD against other currencies. It would require a positive surprising release for the USD to strengthen against other currencies. This data will not likely change the actual bearish trend for the USD.
Key Levels:
Resistance 1.2300, 1.2400
Support 1.2150, 1.2070, 1.2000
Trend EUR/USD:
Bullish
The price tested 1.2300 resistance level. Last week, the price closed with a bearish correction, approaching important support levels.
Call to Action/Trade Idea
We will look for any opportunity to join the bullish trend. We might see a retracement to support levels. From there we will look for buying opportunities.
