Settings of Trade Forex commentary: Palady, NZDUSD fakey update inside bar
In our comment from 9-9-10, we discussed the installation fakey bullish who formed the day before in the NZDUSD, which we posted shortly after it was formed in our Member's forum. This setting has shot up to the next logical horizontal area near 0.7350, providing traders who have taken this trade with some decent seeds and a solid risk to reward the installation.
It's worth noting how price has met significant levels of horizontal in NZDUSD recently.Notice how the price moved from 0 7150 and, therefore, up to 0.7350 before reversing.
AUDUSD:
The daily formed internal bar today in resistance near 0.9400. This internal bar can cause prices to fall down support near 0.9200. However, there would try to short to a bull market, instead we would wait for moving lower potential and then try to get on board the uptrend with a configuration of bullish price action forming around 0.9200.
For deeper analysis of the major currency pairs and analysis of forex price action, check out my forex trading course.
Comment:
The dollar posted its biggest one-day gain against the Japanese yen in almost two years, today as Japan began selling in the market forex Yen in order to weaken the currency recently momentum in order to make exports more attractive to foreign buyers.
Intervention Japanese also helped push the euro, Australian dollar and British pound today substantially higher against the yen, although the Japan mainly bought dollars
The Dow rose 46.24 points or 0.44%, S & P 500 added 3,97 points or 0.35% and the Nasdaq added 11.55 points or 0.50%.
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