NZD/USD strong confluence at the 4-hour W

Nenad Kerkez Top-XE

The NZD/USD is having a move exactly from the 1-2-3 pattern and towards the next support as a part of pre NFP profit-taking.

The NZD has been one of the strongest currencies this week. However, profit-taking could make the price retrace towards the ATR support at 0.7187 and further down to 0.7131 which will depend on the NFP result. The final target is 0.7032 which happens on the USD strength. If 0.7304 breaks the pair will go further up.

The analysis has been done with the CAMMACD.Core System.

For more daily technical and wave analysis and updates, sign-up up to our ecs.LIVE channel.

Author

Nenad Kerkez

Top-XE

EUR/USD pops to yearly highs near 1.1770

EUR/USD rapidly reverses course and hits fresh YTD tops near 1.1780 at the end of the week. The pair’s U-turn comes on the back of the intense sell-off in the Greenback amid the generalised risk-on context.

GBP/USD climbs to four-month tops near 1.3600

GBP/USD is building on its solid weekly advance and is pushing toward the 1.3600 hurdle on Friday, or new four-month peaks. Cable’s strong move higher comes as the Greenback intensifies its decline, while auspicious results on the UK calendar also collaborate with the uptrend.

Gold picks up pace, approaches $5,000

Gold prices keep their uptrend well in place and gear up for an imminent hit to the key $5,000 mark per troy ounce on Friday. The yellow metal’s sharp advance gathers pace amid the increasing weakness in the US Dollar and mixed US Treasury yields across the curve.