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NZDUSD Triangle Pattern on the daily chartLatest New Zeland macroeconomic figures are showing the economy is slowing down. Employment Change (QoQ) (Q4) 0.1% Labor Cost Index (QoQ) (Q4) 0.5% Labor Cost Index (YoY) (Q4) 2.0% Participation Rate (Q4) 70.90% Unemployment Rate (Q4) 4.3% BNZ, which is one of the most dovish central banks by stating that it will not increase any interest rates until the end of 2020, can continue to hold its dovish stance in the next week’s meeting with this data. On the other hand, the FED is still the safest haven with its USD 2.5% interest rate even though its dovish stance. Economic Calendar The most important calendar data for the pair is undoubtedly RBNZ meeting on February 13th – No policy change is expected If the negotiations between the US and China to be held on February 28th do not result in a market expectation, the market may switch to risk-off mode. This may be catalysed for new decreases in the pair. Technically: The pair broke the short term bullish trend line. We see a triangle pattern on the daily charts. The pair is likely to test the baseline of the triangle 0.66500. Breakout of the triangle will trigger the bearish move. Invalidation level of the pattern is 0.69500. Breakout Level is 0.66500 Targets will be: 0.6590 0.6550 0.6440
Short
by chartreader_pro
CRUDE OIL Update H4 Chart OverviewWe started to short WTI at 66.40 and added short at the broken structures. 350 pips so far. What's next? I will publish a fundamental report later. 62.50 historical level and/or Fractal Trendline must be broken in order to talk about a near term trend reversal. Levels are described on the chart. Two major correction/reversal patterns are emerging on the bigger charts. We have three major setups. I will publish them with the fundamental report for the members.
TVC:USOIL
by chartreader_pro
GBPUSD: I Head And Shoulders Pattern on the Daily ChartCable continues to look to Brexit for direction. The pound rallied on the reports that the UK PM May is considering a plan to delay Brexit. Positive headlines in the Brexit negotiations are expected to be supportive of the continuation of the uptrend. Cable is printing a huge inverted Head And Shoulders pattern on the daily chart. Potential breakout of the neckline will trigger the bullish move. Levels as described.
Long
by chartreader_pro
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