Today's analysis is dominated by the impressive gains of EURAUD and NZDCAD, which have both surged up by more than 100 pips. These impressive moves have caught the attention of traders around the world, as they seek to understand the driving forces behind these sharp upward movements.
In this article, we will explore the factors that have contributed to these gains and provide insights into how traders can take advantage of these trends. So buckle up and get ready to dive into the world of forex trading!
The EURAUD Performance
(UPDATE) - EURAUD hit the target
EURAUD retraced to the support zone and continued +140 pips back to the supply zone. This price action completed the trading opportunity and now traders are out of the market. At the moment the market is bouncing from the previous resistance zone around 1.61810. Traders are waiting for more price action to develop before identifying the next leg.
Read More: What Is Forex
The NZDCAD Performance
(UPDATE) - NZDCAD hit the target
NZDCAD completed the bearish trading opportunity by rejecting the top of the channel and dropping +100 pips to hit the target. Traders are now out of the market and are waiting for more price action to develop before looking for more trading opportunities.
The GOLD Performance
(UPDATE) - GOLD hit $2000
GOLD is back trading within a demand zone. This comes after the market hit $2000 and created a higher high. The overall structure and trend is still bullish and as such, traders are looking for more trading opportunities to the upside.
Finally, EURAUD and NZDCAD up +100 pips respectively. GOLD hit $2000. They indicate possible trading chances for traders who are ready to capitalise on them. Looking for more information regarding our daily analysis? Follow our blog and subscribe to our YouTube channel today.