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It’s the mother of all markets, making all other types of trading possible. Every three years the Bank of International Settlements releases its survey of foreign exchange and OTC derivatives markets.
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02/11/2022 Market Analysis

Authored by TD Markets
16.11.2022
Technical Analysis
0
2 min

CADCHF

CADCHF is in a bear market as seen by a series of lower lows and lower highs on the daily timeframe. This price action broke below a bigger ascending structure. Recently the market created a lower low and has been trading within a retracement. According to this price action, traders are waiting for a lower high to form around the weekly timeframe supply zone indicated by the grey area which aligns with a possible 3rd touch of the descending trendline. This will add to the confluence and provide a trading opportunity to the downside.

EURNZD

EURNZD from the daily timeframe broke below market structure. This comes after the market broke below the ascending trendline as well as failing to break and close above the resistance zone around 1.75260. This price action caused a drop n price and a change in behavior to the downside. Traders are now bearish and are looking for trading opportunities once the market retraces to the weekly timeframe supply zone which aligns with the descending trendline.

GBPNZD

GBPNZD is currently trading at a support zone around 1.96200. Market structure suggests a possible change in direction and behavior as seen by the recent lower high. According to this price action, traders anticipate the market to drop and are waiting for a clear break below the support and a correction before looking for trading opportunities to the downside.

Authored by TD Markets
16.11.2022
Technical Analysis
0
2 min
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