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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.
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2021/12/21 Market Analysis

Authored by TD Markets
21.12.2021
Market Analysis
0
2 min

EURJPY

EURJPY has aggressively rejected the support zone. Subsequent to the market forming a higher high after breaking the descending trendline, the market failed to make a lower low which indicates that the support zone is strong. As such traders are anticipating a rally to the upside. 

GBPNZD

GBPNZD is back at the resistance zone for the 3rd time. This zone could be getting weak since the market failed to break structure to the downside upon the previous rejection. From a technical point of view, there is a head and shoulder formation which indicates the resistance is likely to be broken. Traders will be looking for a break and retest to confirm more upside momentum.

USDCHF

USDCHF is in the middle of the structure and still forming a setup. A break above the resistance trendline will see the market pushing back to the previous highs. 

Authored by TD Markets
21.12.2021
Market Analysis
0
2 min
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