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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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2022/03/04 Market Analysis

Authored by TD Markets
04.03.2022
Technical Analysis
0
2 min

GBPJPY:

GBPJPY closed very bearish the previous 24 hours however failed to break and close below the previous daily low at 152.80. The weekly support has not been broken as well as the descending structure, as such, traders are seeing the current push to the downside as a pullback and are still anticipating more bullish strength.  

NZDCAD:

NZDCAD is in a very bullish trend at the moment and recently broke and closed above the descending trendline. The retest provided further bullish strength and new higher highs will provide trading opportunities. Traders anticipate the market to continue the bullish run and test the previous weekly high.

NZDJPY:

NZDJPY aggressively broke and closed above 78.000 and has been forming higher highs and higher lows. The trend is still bullish and approaching the daily resistance and offers a great opportunity to scale-in and maximize on the profits every time the market forms higher lows. As such traders are focusing on long opportunities and anticipate rally up to the daily resistance.

Authored by TD Markets
04.03.2022
Technical Analysis
0
2 min
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