Brent Oil

Oil has formed a 1-5 point reversal pattern and is currently seeing more sellers on the technical side. Traders can clearly see the rejection at the 82.00 level. We see more downside on this asset after 79.16 with both the inner and outer trend lines broken. Lows and lower lows have been formed.

The target is set at 75.03 and uses the D1 and H4 timeframes to monitor the price action.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.

The NZDJPY Performance 

Price has pushed through the resistance at price point 90.019 creating another higher high. We have retracted back into the Golden Ratio, price seems to have bounced off the 38.2 area on the fibonacci tool.

Target 1 is still set at a price point of 91.647.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.

The NZDUSD Performance

NZD attempted to push up last month creating a high on the D1 timeframe but came up short during the rest of October. We have seen a new high being formed in November and successfully breaking it forming a higher high.

This trend formation suggests a setup to the upside for buyers. A fibonacci retracement tool was used to measure the selling pressure and stopped at 61.8.

Traders can technically look for more upside to target 0.62265 as an exit on this pair.

There are conservative trades that will wait for price point 0.60557 to be broken first before they engage their buy positions.

Please note that this should not be used as advice, but support that can assist clients to make a more informed decision on their own. Risk Management must be applied on a strict basis.

Final Thoughts on Today's Analysis

In conclusion, the analysis of Brent Oil, NZDJPY, and NZDUSD provides valuable insights for traders but underscores the importance of exercising caution and implementing rigorous risk management strategies.