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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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09/03/2022 Market Analysis

Authored by TD Markets
10.03.2022
Technical Analysis
0
2 min

AUDUSD:

AUDUSD trend is still bullish and the retracement recently rejected the 50.0 fib level. At the moment the market is trading above the counter-trendline however the candlestick has not closed yet. Traders anticipate the market to continue the bullish momentum and are keeping an eye for long opportunities.

EURNZD:

EURNZD is forming an H4 retracement and is currently testing the resistance zone. This comes after an aggressive decline from the top of the weekly structure and according to the recent price action, momentum is still bearish. The market is still retracing and a better view of this is in the M15 timeframe. As long as the market forms bullish flags it will keep retracing however, a break and close below the previous structure level will alert traders for shorting opportunities.

GBPJPY:

GBPJPY is forming a retracement and looks likely to continue the bearish trend. The descending trendline still provides resistance and the market recently formed a lower low. Traders are keeping an eye on the market for bearish opportunities and waiting for a break and close below the counter-trendline for confirmation.

Authored by TD Markets
10.03.2022
Technical Analysis
0
2 min
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