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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.
A world of Trading assets

15/08/2022 Market Analysis

Authored by TD Markets
17.08.2022
Technical Analysis
0
2 min

EURCAD

EURCAD seems to have completed a bearish corrective structure and is about to resume the daily timeframe bearish trend. The market has already dropped +100 pips since rejecting the top of the structure. This will provide traders with signs that the market is currently forming a bearish impulse wave and as such, traders are waiting for a correction on the lower timeframes in order to identify trading opportunities to the downside.

EURUSD

EURUSD has rejected the resistance zone as well as the 61.8 fib level and has already dropped +100 pips. This indicates that the corrective structure is complete and the market is about to continue the daily timeframe bearish trend. Traders are now keeping a close eye on the lower timeframes for trading opportunities to the downside.

USDZAR

USDZAR is currently trading at a support zone and has corrected 50% of the bullish impulse wave according to the fibonacci. The overall structure is ascending and indicates bullish momentum. Traders anticipate the trend to continue according to the recent price action and are looking for trading opportunities.

Authored by TD Markets
17.08.2022
Technical Analysis
0
2 min
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