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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

2021/12/09 Market Analysis

Authored by TD Markets
09.12.2021
0
2 min

AUD/NZD: (update)

AUDNZD aggressively broke and closed above structure as well as the descending trendline. This is exactly what traders are looking for to create a trading plan. The recent price action indicates bullish momentum and as such, a retest of the support could see a 50 - 60 pips rally back to the top of the overall bigger structure.


CAD/JPY: (update)

CADJPY rallied up +90 pips since the last commentary. Structurally the bullish is complete  and traders are waiting for price action to indicate a break to the upside or a bearish reversal. From a structure perspective, traders could see a 200 pips drop from current price action zones as the market is still bearish. Any counter-trend moves will provide more downside opportunities.

USD/CHF: (update)

USDCHF dropped +40 pips since the last commentary. Recently the market broke and closed below the support zone and is just a few pips away from the target. Traders are still bearish in this market according to the bigger timeframe structure and any bullish waves that form will be seen as more opportunity to the downside.

Authored by TD Markets
09.12.2021
0
2 min
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