Trade theme this week is NZD. And NZD is the bottom of exchange rates for all G28 and EM currency pairs. Its the signal currency. The driver to NZD is not only a low and deeply oversold price but NZD/CHF's price doesn't exist. NZD/CHF must trade higher to establish its price range.
Trades
NZD/USD
Long 0.5918 to target 0.6080. Must cross 0.5945, 0.5972, 0.5999, 0.6026 and 0.6053
Long above 0.6135 to target 0.6243.
NZD/JPY
Long 63.31 and 63.02 to target 65.70. Must cross 63.90, 64.22, 64.81 and 65.40
Long above 66.70 to target 67.89
NZD/CHF
Long 0.5724 and 0.5695 to target 0.5899. Must cross 0.5724, 0.5753, 0.5782, 0.5811, 0.5840.
Long above 0.5959 to target 0.6076. Must cross 0.5988, 0.6017 and 0.6046.
NZD/CAD
Long 0.8343 and 0.8319 to target 0.8425.
Long above 0.8451 to target 0.8504.
Long term target for NZD/CAD must remain above 0.8321. And top range is located at 0.8800's.
Trading currencies and other financial instruments carries a degree of loss and possible loss of entire investments. Please managed your own risks, stop loss, and margins requirements.
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Editors’ Picks
EUR/USD steady below 1.0800 after US PCE meets expectations
EUR/USD remains depressed below 1.0800 after soft French inflation data, amid minimal volatility and thin liquidity on Good Friday. The pair barely reacted to US PCE inflation data, with the Greenback shedding some pips. Fed Chair Jerome Powell set to speak ahead of the weekly close.
GBP/USD hovers around 1.2620 in dull trading
GBP/USD trades sideways above 1.2600 amid a widespread holiday restraining action across financial markets. Investors took a long weekend ahead of critical United States employment data next week. Fed Chair Powell coming up next.
Gold price sits at all-time highs above $2,230
Gold price holds near a fresh all-time high at $2,236 in thinned trading amid the Easter Holiday. Most major world markets remain closed, although the United States published core PCE inflation, the Federal Reserve’s favorite inflation gauge.
Jito price could hit $6 as JTO coils up inside this bullish pattern
Jito (JTO) price has been on an uptrend since forming a local bottom in early January. Since then, JTO has revisited the key swing point formed in early December, suggesting the bulls’ intention to move higher.
Key events in developed markets next week
Next week, the main focus will be inflation and the labour market in the Eurozone. We expect services inflation to be impacted by the easter effect, while the unemployment rate to be unchanged.