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2021/10/25 Market Analysis

Authored by TD Markets
25.10.2021
Market Analysis
0
2 min

CHFJPY: (update)

CHFJPY is consolidating at the top of the structure. This indicates that the buy positions that have been opened are being closed as traders are waiting for bearish momentum and take advantage of the reversal. Structurally the market is testing the top of a possible ascending channel on the higher timeframe and according to this structure, traders are bearish. 

EURGBP: (update)

EURGBP is bouncing from the low of the structure. At the moment the market is also consolidating and has been respecting the descending trendline. An aggressive break above the trendline and structure should confirm the rejection from the low of the structure and the  change in momentum. This will alert traders for bullish momentum.

NATURAL GAS: (update)

NATGAS has bounced from the bottom of the structure or trendline and is rallying to the upside according to the previous commentary. Currently the counter-trendline has been breached to the upside and traders now anticipate bullish continuation setups only.

Authored by TD Markets
25.10.2021
Market Analysis
0
2 min
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