GBPAUD

GBPAUD closed extremely bearish yesterday. On the weekly timeframe the market rejected the top of the weekly structure which alerted market participants of a possible drop. The inner structure has been broken to the downside as well and this confirmed that the bullish momentum is slowing down. Traders anticipate a further drop of about 125 pips however there is a huge possibility that GBPAUD can drop further down.

GBPNZD

GBPNZD has been trying to recover to the upside however structure indicates that sellers are still interested in this market. At the moment the market is trapped inside a bear flag and traders are keeping an eye out for a break-out to the downside for new lower lows. There are possibilities of the market pushing back to the top of the correction before dropping.

NATURAL GAS

NATGAS is testing the demand zone as well as the 61.8 fib level. The momentum to the upside is quite aggressive which also aligns with the change in season in the Northern Hemisphere. Market participants anticipate the bullish momentum to continue and create new highs.