- Waiting for the FED Rate decision.
- NZD GDP Preview: Expected to -12.8% QoQ IN Q2.
Yesterday's fall led to the formation of the "absorption" pattern of the daily level. The downward movement will aim to return to the upper limit of the average move of the previous week, located at the level of 0.6740/50$.
Price hit back to resistance and expecting coming days correction downside If price closed below 0.6760/80$, the target of the decline will be the weekly short-term price of 0.6636-0.6621. A test of this zone will cause the price to go more downside towards support 0.6520$.
Support/Resistance
✅S1= 0.6650
✅S2=0.6530
✴️R1=0.6760
✴️R2=0.6820
Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only and do not constitute investment advice. You should do your own thorough research before making any investment decisions Opinions, market data, recommendations or any other content is subject to change at any time without notice. ALL-MY-PIPS, will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Always Trade and Invest at Your Own Risk.
Recommended Content
Editors’ Picks
AUD/USD: A tough barrier remains around 0.6800
AUD/USD failed to maintain the earlier surpass of the 0.6800 barrier, eventually succumbing to the late rebound in the Greenback following the Fed’s decision to lower its interest rates by50 bps.
EUR/USD still targets the 2024 peaks around 1.1200
EUR/USD added to Tuesday’s losses after the post-FOMC rebound in the US Dollar prompted the pair to give away earlier gains to three-week highs in the 1.1185-1.1190 band.
Gold surrenders gains and drops to weekly lows near $2,550
Gold prices reverses the initial uptick to record highs around the $$2,600 per ounce troy, coming under renewed downside pressure and revisiting the $2,550 zone amidst the late recovery in the US Dollar.
Australian Unemployment Rate expected to hold steady at 4.2% in August
The Australian Bureau of Statistics will release the monthly employment report at 1:30 GMT on Thursday. The country is expected to have added 25K new positions in August, while the Unemployment Rate is foreseen to remain steady at 4.2%.
Ethereum could rally to $2,817 following Fed's 50 bps rate cut
Ethereum (ETH) is trading above $2,330 on Wednesday as the market is recovering following the Federal Reserve's (Fed) decision to cut interest rates by 50 basis points. Meanwhile, Ethereum exchange-traded funds (ETF) recorded $15.1 million in outflows.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.