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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

15/11/2022 Market Analysis

Authored by TD Markets
16.11.2022
Technical Analysis
0
2 min

EURJPY

EURJPY is trading within a bigger ascending channel. Observing the behaviour of price action, traders have noticed a cycle that repeats every time the market bounces from the top of the structure. At the moment the market is repeating the same cycle in a form of a bullish continuation pattern within the overall ascending structure This price action indicates that a continuation to the upside is on the cards and thus confirms the bullish bias amongst traders who are now looking for trading opportunities to the upside.

GBPNZD

GBPNZD recently broke below the ascending structure as well as the support zone. This price action indicates that a drop is on the cards which aligns with the overall downward trend. According to this price action traders are looking for trading opportunities to the downside and anticipate price to drop back to the previous structure low around 1.91100.

NZDJPY

NZDJPY recently broke above the descending channel and rallied to the upside forming an uptrending structure. This comes after the market rejected the bottom of the bigger ascending structure and broke above the previous resistance zone. This price action indicates that buyers are in the market and a push to the upside is on the cards. As such, traders are now looking for trading opportunities and utilizing continuation strategies would be the option decision.

Authored by TD Markets
16.11.2022
Technical Analysis
0
2 min
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